Author Question: You would expect that your firm is experiencing decreasing returns to scale if a. Long run average ... (Read 76 times)

cherise1989 · **on:** Jul 1, 2018

You would expect that your firm is experiencing decreasing returns to scale if
a. Long run average costs increase with output
b. Long run average costs decrease with output
c. Long run average costs are constant with respect to output
d. None of the above

Question 2

Jim is haggling with a car dealer on the price of a used car. During the bargaining, Jim discovers that the car has a significant number of scratches which he had not noticed before. The total surplus from the sale has
a. Increased
b. Decreased
c. Was not affected
d. All of the above

Smiles0805 · **Reply #1 on:** Jul 1, 2018

Answer to Question 1

a

Answer to Question 2

b

cherise1989 · **Reply #2 on:** Jul 1, 2018

Thank you

Smiles0805 · **Reply #3 on:** Jul 1, 2018

Happy to help you

Author Question: You would expect that your firm is experiencing decreasing returns to scale if a. Long run average ... (Read 76 times)

cherise1989

You would expect that your firm is experiencing decreasing returns to scale if a. Long run average ...

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Smiles0805

You would expect that your firm is experiencing decreasing returns to scale if a. Long run average ...

cherise1989

You would expect that your firm is experiencing decreasing returns to scale if a. Long run average ...

Smiles0805

You would expect that your firm is experiencing decreasing returns to scale if a. Long run average ...