When a country that imports a particular good imposes an import quota on that good,
a. consumer surplus increases and total surplus increases in the market for that good.
b. consumer surplus increases and total surplus decreases in the market for that good.
c. consumer surplus decreases and total surplus increases in the market for that good.
d. consumer surplus decreases and total surplus decreases in the market for that good.
d
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Constant returns to scale indicate that a firm is experiencing:
a. per unit costs of production that are decreasing as the scale of output expands. b. per unit costs of production that remain stable as the scale of output expands. c. per unit costs of production that are increasing as the scale of output expands d. an increasing marginal product.
Refer to the table below. Over what range of output are economies of scale experienced by this firm?
Plant sizes get larger as you move from ATC-1 to ATC-4.
A. 1500 to 3000
B. 1500 to 3500
C. 2000 to 3500
D. 2000 to 4000