You would expect that your firm is experiencing a constant returns to scale if
a. Long run average costs increase with output
b. Long run average costs decrease with output
c. Long run average costs are constant with respect to output
d. None of the above
c
Economics
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When a country exports more goods and services than it imports, this is called
A. a balance of trade deficit. B. a balance of trade surplus. C. a positive terms of trade. D. a negative terms of trade.
Economics
The invisible hand is
A. Perfect competition. B. The profit motive. C. Government direction. D. The mixed economy.
Economics