If a firm in the long run produces less than its efficient scale, it
A) should raise its markup to increase its profit.
B) should lower its markup to increase its profit.
C) cannot be a perfectly competitive firm.
D) should not advertise to increase its profit.
E) must have its markup equal to zero.
C
Economics
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If production displays diseconomies of scale, the long-run average cost curve is
A) above the long-run marginal cost curve. B) downward sloping. C) above the short-run average total cost curve. D) upward sloping.
Economics
Contraction of the money supply can aggravate a recession.
Answer the following statement true (T) or false (F)
Economics