If a firm has increasing returns to scale at all levels of output, the
A. slope of its long-run total cost curve is always negative.
B. slopes of its short-run average cost curves are always negative.
C. slope of its long-run average cost curve is always negative.
D. slope of its production function is always negative.
Answer: C
Economics
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In the figure above, at the point where the price is $60 per bunch, the price elasticity of supply is
A) 1.8 B) 0.56 C) 1 D) 1.5 E) 0
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