When long-run average costs increase as output increases, there are
A) economies of scale.
B) diseconomies of scale.
C) constant returns to scale.
D) constant marginal costs.
B
Economics
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In a representative democracy, some responsibility for government extends to all citizens
a. True b. False Indicate whether the statement is true or false
Economics
All things equal, the price elasticity of supply:
a. will be greater in the short run than in the long run. b. will be greater in the long run than in the short run. c. is the same for the short run and the long run. d. approaches zero in the long run.
Economics