Increases in long-run average cost that result from output increases is
A) the law of diminishing marginal product.
B) economies of scale.
C) constant returns to scale.
D) diseconomies of scale.
Answer: D
Economics
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When people want to hold money to make regular planned expenditures, this is
A) the transaction demand for money. B) the asset demand for money. C) the precautionary demand for money. D) the spending demand for money.
Economics
As a result of establishing a legal minimum wage above the market clearing wage
A) there will be a shortage of workers. B) firms will hire fewer workers. C) firms will hire more workers. D) fewer workers will want to work.
Economics