A positively sloped long run average cost implies:
a. economies of scale.
b. constant returns to scale.
c. diseconomies of scale.
d. diminishing marginal returns to a factor.
e. increasing returns to scale.
c
Economics
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Assume a change in price causes the price elasticity of demand for a good (in absolute value) and marginal revenue to decrease. In this case we can conclude that the price of the good was:
A) increased. B) held constant. C) decreased. D) cannot be determined.
Economics
According to the partisan party model,
a. the primary emphasis of the liberal party is on full employment and income distribution. b. the liberal party stresses price stability as their most important goal. c. employment stability is most important to the conservative party. d. only two parties exist. e. Both a and d.
Economics