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Author Question: A firm experiences ________ when its ________ downward as output increases. A) diseconomies of ... (Read 52 times)

crazycityslicker

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on: Jun 29, 2018
A firm experiences ________ when its ________ downward as output increases.
 
  A) diseconomies of scale; average total cost curve slopes
  B) economies of scale; long-run average cost curve slopes
  C) diminishing marginal returns; long-run average cost curve slopes
  D) diminishing marginal returns; average total cost curve shifts

Question 2

Kristen has an income of 450 per year to spend on music CDs and movies on DVDs. The price of a CD is 15 and the initial price of a DVD is 22.50. The indifference curves in the figure above (I1, I2, and I3 ) reflect Kristen's preferences.
 
  If the price of a DVD falls to 18, the income effect on Kristen's consumption of DVDs ________ the substitution effect, so a DVD is ________ good. A) partly offsets; an inferior
  B) partly offsets; a normal
  C) reinforces; an inferior
  D) reinforces; a normal


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Sophiapenny

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


crazycityslicker

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

T4T

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Reply 3 on: Yesterday
Gracias!

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