Author Question: If output is increased in the long-run, average production costs in the presence of internal ... (Read 72 times)

deesands · **on:** Jun 30, 2018

If output is increased in the long-run, average production costs in the presence of internal diseconomies of scale will ________, and in the presence of external diseconomies of scale, will ________.

A) decrease; decrease
B) increase; remain constant
C) remain constant; increase
D) decrease; remain constant
E) increase; decrease

Question 2

If the price of a good rises by 10 and the quantity purchased falls by 5, then demand for the good is ________ and total spending on the good will ________.

A) elastic; increase
B) inelastic; increase
C) elastic; decrease
D) me and so inelastic; decrease