Which of the following is the best example of a decreasing-cost industry?
A) the health care industry
B) the personal computer industry
C) the college-education industry
D) the oil industry
B
Economics
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At the level of output where the marginal cost and marginal revenue curves intersect, a monopolist's demand curve passes above its average total cost curve. The firm will:
a. be able to make a pure economic profit. b. stay in operation in the short-run, but shut down. c. shut down in the short-run. d. increase its price.
Economics
A worker deciding how many hours to work can be represented:
A. with an individual labor-supply curve. B. in the market labor-supply curve. C. with an individual labor-demand curve. D. in the market labor-demand curve.
Economics