At the current level of output, long-run marginal cost is 50 and long-run average cost is 75. This implies that:
A) there are neither economies nor diseconomies of scale.
B) there are economies of scale.
C) there are diseconomies of scale.
D) the cost-output elasticity is greater than one.
Question 2
The income-consumption curve
A) illustrates the combinations of incomes needed with various levels of consumption of a good.
B) is another name for income-demand curve.
C) illustrates the utility-maximizing combinations of goods associated with every income level.
D) shows the utility-maximizing quantity of some good (on the horizontal axis) as a function of income (on the vertical axis).
the comet Encke riding along its pebbly trail of debris (long diagonal line) between the orbits of M
The Increasing Cost of Health Care, 1960–2010
Brush off the back. Apply several long brushing strokes from head to hips to finish the session.
The IPCC projects sea level rise
Projections of global temperature depend heavily on the level of future greenhouse gas emissions