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Author Question: _____ determine the efficient pattern of specialization in production. a. Total costs b. ... (Read 70 times)

fnuegbu

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on: Jun 30, 2018
_____ determine the efficient pattern of specialization in production.
 a. Total costs
  b. Opportunity costs
  c. Marginal costs
  d. Sunk costs

Question 2

When a firm is experiencing economies of scale, it will:
 a. underuse a larger plant size than is indicated by short-run efficiency concerns.
  b. underuse a smaller plant than is indicated by short-run efficiency concerns.
  c. overuse a larger plant size than is indicated by short-run efficiency concerns.
  d. overuse a smaller plant size than is indicated by short-run efficiency concerns.
  e. produce at the minimum short-run and long-run average costs.


dpost18

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

C

Answer to Question 2

a


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