Economies of scale occur where
a. long-run average cost falls as new firms enter the industry
b. short-run average cost falls as new firms enter the industry
c. long-run average cost falls as one firm expands plant size
d. short-run average cost falls as one firm expands plant size
e. long-run average cost rises as one firm expands plant size
C
You might also like to view...
When tax revenue exceed the government's outlays, the budget
A) has a deficit and the national debt is increasing. B) is balanced and the national debt is decreasing. C) has a surplus and the national debt is decreasing. D) has a surplus and the national debt is increasing. E) None of the above because by law tax revenue cannot exceed the government's expenditures.
A musician was guaranteed by the government that no one else could replicate or sell his music CDs. This is an example of a:
A) brand. B) patent. C) copyright. D) trademark.