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Author Question: You would expect that your firm is experiencing decreasing returns to scale if a. Long run average ... (Read 127 times)

cherise1989

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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


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Smiles0805

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

a

Answer to Question 2

b


cherise1989

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Reply #2 on: Jul 1, 2018
Thank you :)


Smiles0805

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Reply #3 on: Jul 1, 2018
Happy to help you


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