What denotes the output level where economies of scale are exhausted and constant returns to scale begin?
a. minimum efficient scale
b. break-even point
c. efficient equilibrium
d. zero economic profit
a
Economics
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When aggregate expenditure = GDP
A) net exports equal zero. B) macroeconomic equilibrium occurs. C) saving equals zero. D) the federal budget is balanced.
Economics
The slope of the isoquant tells the firm how much
A) output increases when labor increases by one unit. B) output increases when capital and labor are doubled. C) capital must decrease to keep output constant when labor increases by one unit. D) a unit of capital costs relative to the cost of labor.
Economics