If both the marginal cost and the average variable cost curves are U-shaped. At the minimum point on the average variable cost curve, the marginal cost must be:

How is the gain from imports distributed between consumers and domestic producers?

What will be an ideal response?

Over the past twenty years, the number of small family farms has fallen significantly and in their place there are fewer, but larger, farms owned by corporations. Which of the following best explains this trend?

A) diminishing returns to labor in farming B) declining productivity C) diseconomies of scale in farming D) economies of scale in farming