This topic contains a solution. Click here to go to the answer

Author Question: When production is characterized by persistently declining long-run average costs as output ... (Read 137 times)

Collmarie

  • Hero Member
  • *****
  • Posts: 569
When production is characterized by persistently declining long-run average costs as output increases
 
  A) the costs of production are greater when competition exists than when a single firm produces a good.
  B) it is impossible for two firms to compete in the market.
  C) the costs are lower if a single firm exists, and even if the firm is unregulated, price will still be lower with a single firm.
  D) there is no need for the government to limit competition by licensing requirements.

Question 2

If you save 2,500 for a down payment on a new car, you are using money as
 
  A) a store of value.
  B) a unit of account.
  C) a medium of exchange.
  D) a standard of deferred payment.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

ultraflyy23

  • Sr. Member
  • ****
  • Posts: 312
Answer to Question 1

A

Answer to Question 2

A




Collmarie

  • Member
  • Posts: 569
Reply 2 on: Jun 29, 2018
Excellent


ghepp

  • Member
  • Posts: 361
Reply 3 on: Yesterday
Wow, this really help

 

Did you know?

The modern decimal position system was the invention of the Hindus (around 800 AD), involving the placing of numerals to indicate their value (units, tens, hundreds, and so on).

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Did you know?

Atropine, along with scopolamine and hyoscyamine, is found in the Datura stramonium plant, which gives hallucinogenic effects and is also known as locoweed.

For a complete list of videos, visit our video library