If in some production range average cost is rising, the firm is experiencing
a. increasing returns to scale.
b. decreasing returns to scale.
c. constant returns to scale.
d. increasing costs per unit of output.
b
Economics
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One criticism of the new classical model is that it does not have an adequate explanation for
a. rising prices and output. b. short-run effects of monetary policy on output. c. how optimizing individuals form their expectations. d. the Great Depression. e. both c and d.
Economics
Social Security retirement benefits are increased automatically each year at the rate of inflation
Indicate whether the statement is true or false
Economics