An expansion path shows
A) the level of sales necessary for a firm if it wants to expand.
B) the level of long-run average cost at different scales of operation.
C) the returns to scale at each level of output.
D) the least-cost combination of inputs for each level of output.
D
Economics
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All of the following have played a role in reducing union strength since 1970 except
a. rising service sector employment. b. foreign industrial competition. c. the Supreme Court's decision to apply antitrust laws to union organization efforts. d. "right-to-work" laws.
Economics
How is the long-term result of entry and exit in a perfectly competitive market different from that in a monopolistically competitive market?
Economics