Author Question: You would expect that your firm is experiencing increasing returns to scale if a. Long run average ... (Read 60 times)

vHAUNG6011 · **on:** Jul 1, 2018

You would expect that your firm is experiencing increasing 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 over the sale price of a used car. When he entered the store, the storekeeper was already haggling with the other customer. His bargaining position could get worse if
a. The customer leaves
b. Another customer enters the store, interested in the car
c. He gets an offer from another seller
d. All of the above