When production is characterized by persistently declining ...

[Collmarie]

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.

[ultraflyy23]

Answer to Question 1

A

Answer to Question 2

A

[Collmarie]

Thanks for the timely response, appreciate it

[Jossy]

TYSM