This topic contains a solution. Click here to go to the answer

Author Question: When production is characterized by persistently declining long-run average costs as output ... (Read 148 times)

Collmarie

  • Hero Member
  • *****
  • Posts: 569
When production is characterized by persistently declining long-run average costs as output increases
 
  A) the costs of production are greater when competition exists than when a single firm produces a good.
  B) it is impossible for two firms to compete in the market.
  C) the costs are lower if a single firm exists, and even if the firm is unregulated, price will still be lower with a single firm.
  D) there is no need for the government to limit competition by licensing requirements.

Question 2

If you save 2,500 for a down payment on a new car, you are using money as
 
  A) a store of value.
  B) a unit of account.
  C) a medium of exchange.
  D) a standard of deferred payment.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ultraflyy23

  • Sr. Member
  • ****
  • Posts: 312
Answer to Question 1

A

Answer to Question 2

A




Collmarie

  • Member
  • Posts: 569
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review


amit

  • Member
  • Posts: 364
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

As many as 28% of hospitalized patients requiring mechanical ventilators to help them breathe (for more than 48 hours) will develop ventilator-associated pneumonia. Current therapy involves intravenous antibiotics, but new antibiotics that can be inhaled (and more directly treat the infection) are being developed.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

More than 2,500 barbiturates have been synthesized. At the height of their popularity, about 50 were marketed for human use.

For a complete list of videos, visit our video library