Multiple Choice
When long-run average cost decreases as output increases, there are definitely I. increasing marginal returns.
II) economies of scale.
A) only I
B) only II
C) both I and II
D) neither I nor II
Correct Answer:
Verified
Correct Answer:
Verified
Q451: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -In the above
Q452: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -Silvio's Pizza is
Q453: Average total costs are<br>A) total costs divided
Q454: Economies of scale<br>A) lead to rising long-run
Q455: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -Farmer Seth has
Q457: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -Based on the
Q458: Which of the following statements is TRUE?<br>A)
Q459: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The table above
Q460: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8586/.jpg" alt=" -The above (incomplete)
Q461: The law of diminishing returns states that