Someone once said that Chevrolet is so large that if it shakes its tail, its takes two years for its head to notice it. This is an example of
a. profit centers
b. economies of scale
c. diseconomies of scale
d. diminishing marginal returns
e. diminishing marginal cost
Question 2
The minimum efficient scale for a firm is the
a. lowest rate of output at which long-run average cost is at a minimum
b. lowest rate of output at which short-run average total cost is at a minimum
c. lowest rate of output at which short-run average variable cost is at a minimum
d. average of the rates of output at which long-run average cost is at a minimum
e. average of the rates of output at which short-run average total cost is at a minimum
A blue whale lifting its tail flukes.
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Nephroblastoma. A sectioned kidney reveals the presence of a very large tumor, which arose from feta
In 2008, the U.S. economy suffered a gaping wound as several trillion dollars were ripped out of it.
VESPR Chart. My favorite for many years