Author Question: When there are economies of scale in production: a. long-run average total cost declines as output ... (Read 60 times)

melly21297 · **on:** Jun 30, 2018

When there are economies of scale in production:
a. long-run average total cost declines as output expands.
b. long-run average total cost increases as output expands.
c. marginal cost increases as output expands.
d. the marginal product of an input diminishes with increased utilization.

Question 2

Risk is typically measured:
a. by comparing the size of a firm to other firms operating in the market.
b. by looking at the economic profit that a firm has earned in the past few years.
c. by determining whether the bonds issued by a firm are of high or low value.
d. by comparing how much the stock price fluctuates compared with an average firm.
e. by comparing how much the price of the bond falls whenever the price of a firm's product rises.