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Author Question: Economies of scale exist when a. long-run average costs decline as output increases. b. long-run ... (Read 99 times)

mpobi80

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on: Jul 1, 2018
Economies of scale exist when
 a. long-run average costs decline as output increases.
  b. long-run average costs are constant.
  c. long-run average costs increase as output increases.
  d. short-run average costs decline.
  e. short-run average costs increase.

Question 2

Two goods, X and Y, are called complements if
 a. an increase in PX causes more Y to be bought.
  b. an increase in PX causes less Y to be bought.
  c. an increase in PY causes less Y to be bought.
  d. an increase in income causes more of both X and Y to be bought.


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Mollythedog

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Reply #1 on: Jul 1, 2018
Answer to Question 1

A

Answer to Question 2

b


mpobi80

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Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

strudel15

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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