Author Question: Economies of team production exist when the A) average cost of producing a unit of a good falls ... (Read 114 times)

Sportsfan2111 · **on:** Jun 29, 2018

Economies of team production exist when the

A) average cost of producing a unit of a good falls as its output rate increases.
B) firm buys parts or products from other firms.
C) firm uses specialized resources to produce a range of goods and services.
D) individuals in a group specialize in mutually supportive tasks in the production process.

Question 2

The above figure shows the costs at Barney's Bagel Bakery. After 3000 bagels are produced each day, the ATC curve starts to slope upward because the

A) MC curve slopes upward.
B) MC exceeds the ATC.
C) AFC curve (not shown) starts to slope upward.
D) None of the above answers is correct.