Author Question: If long run average costs are constant with respect to output, you have a. Increasing returns to ... (Read 42 times)

Yolanda · **on:** Jul 1, 2018

If long run average costs are constant with respect to output, you have
a. Increasing returns to scale
b. Decreasing returns to scale
c. Constant returns to scale
d. None of the above

Question 2

The firm would have a better bargaining position if
a. The firm can easily replace the workers with machinery
b. The workers are a critical part of the production process
c. The workers are highly specialized and would not find employment elsewhere easily
d. Both A&C