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Author Question: A U-shaped long-run average cost curve indicates that A) economies of scale follow diseconomies of ... (Read 63 times)

bb

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on: Jun 30, 2018
A U-shaped long-run average cost curve indicates that
 A) economies of scale follow diseconomies of scale.
  B) diseconomies of scale follow economies of scale
  C) economies of scale and economies of scope are the same.
  D) economies of scale dominate diseconomies of scale over all levels of production.

Question 2

Zach and Laura want to buy cars and go to the same dealer. The dealer perceives Zach's price elasticity of demand to be lower than Laura's. Which of the following statements will be true?
 a. The dealer will quote the same price to both since individual characteristics do not matter.
  b. The dealer will quote a higher price to Laura because of her gender.
  c. The dealer will quote a higher price to Zach because his demand is less elastic.
  d. The dealer will quote different prices to both according to their bargaining tactics.


hollysheppard095

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

C


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