Economies of scale exist when the
A) total cost of production falls as the output increases.
B) cost of producing a unit of a good falls as its output decreases.
C) cost of producing a unit of a good falls as its output increases.
D) firm uses specialized resources to produce a range of goods and services.
Question 2
Grape juice prices increased by 20 percent in 2007. Suppose in response grape growers did not increase or decrease their grape production. The elasticity of supply is best described as
A) perfectly inelastic.
B) perfectly elastic.
C) inelastic.
D) elastic.
Large-scale impacts of the (a) positive, and (b) negative phases of the North Atlantic Oscillation.
A Production Function with Diminishing Marginal Product of Capital
The Production of Cytotoxic T-lymphocytes (CTLs)
Production of ATP in Skeletal Muscle
The surface temperature of the star is 6000 K. At what wavelength is its light output a maximum
Determination of the genotype of F2 plants by the production of F3 progeny