At the current level of output, long-run marginal cost is 50 and long-run average cost is 75. This implies that:
A) there are neither economies nor diseconomies of scale.
B) there are economies of scale.
C) there are diseconomies of scale.
D) the cost-output elasticity is greater than one.
Question 2
The income-consumption curve
A) illustrates the combinations of incomes needed with various levels of consumption of a good.
B) is another name for income-demand curve.
C) illustrates the utility-maximizing combinations of goods associated with every income level.
D) shows the utility-maximizing quantity of some good (on the horizontal axis) as a function of income (on the vertical axis).
The roles of transpiration, cohesion, adhesion, and tension in long-distance water transport.
A graphical representation of the marginal value theorem.
Common sites of amputation. (A) Upper extremities. (B) Lower extremities. The surgeon determines th
The fuel level must be above 15% and below 85% before the EVAP monitor will run on most vehicles.
Clear the lower leg with long strokes. Start proximal to the ankle, and stroke to the knee and ...
U.S. Output and Productivity Growth, 1870–2007