Refer to the data. The marginal cost column reflects:
A. the law of diminishing returns.
B. the law of diminishing marginal utility.
C. diseconomies of scale.
D. economies of scale.
A. the law of diminishing returns.
Economics
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Economics is the study of how
A) people make money. B) preferences are determined. C) psychology influences preferences. D) people make choices.
Economics
The entry of new firms into a market stops when:
a. the accounting profit of existing firms falls to zero. b. the general price level in the economy rises. c. the rate of interest in the economy declines. d. the economic profit of existing firms falls to zero. e. the corporate taxes are relaxed.
Economics