Author Question: The cost data in the above table data show that production is characterized by A) economies of ... (Read 81 times)

sheilaspns · **on:** Jun 29, 2018

The cost data in the above table data show that production is characterized by

A) economies of scale.
B) constant returns to scale.
C) decreasing returns to scale.
D) More information is needed to answer the question.

Question 2

Firms in monopolistic competition maximize their profit by setting their price equal to their marginal revenue.

Indicate whether the statement is true or false