Multiple Choice
Which of the following statements is TRUE?
A) If a firm is experiencing economies of scale, diminishing marginal product has not set in yet.
B) No firm would ever operate at a level of output for which it experiences diseconomies of scale.
C) A firm can experience diminishing marginal product and economies of scale at the same time.
D) Diseconomies of scale is a short-run concept, while economies of scale is a long-run concept.
Correct Answer:
Verified
Correct Answer:
Verified
Q254: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -In the above
Q255: "The short-run average total cost curve and
Q256: For a hotdog vendor, the hotdog buns
Q257: The production function<br>A) gives the maximum amount
Q258: An increase in long-run average costs resulting
Q260: Suppose that when the level of output
Q261: Suppose the total output curve increases at
Q262: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5018/.jpg" alt=" -If average variable
Q263: When average variable costs are rising<br>A) marginal
Q264: As a firm increases the level of