Multiple Choice
-Refer to the above figure. The firm that produces an output between Q1 to Q2 is experiencing
A) constant returns to scale.
B) diseconomies of scale.
C) diminishing marginal product.
D) economies of scale.
Correct Answer:

Verified
Correct Answer:
Verified
Q12: The ratio of total costs to the
Q13: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the
Q14: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Use the above
Q15: When El Torito Restaurant is deciding how
Q16: Which of the following is NOT one
Q18: As a firm's production increases in the
Q19: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -In the above
Q20: McDonald's is a fast-food restaurant chain. Which
Q21: Average variable costs equal<br>A) total variable costs
Q22: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -Refer to the