The Fed’s purchase and sale of government securities is known as

Which of the following statements is true?

a. When long-run average total costs are increasing, the firm enjoys economies of scale. b. Most industries exhibit long-run average costs that are shaped like an upside-down U. c. Constant returns to scale occur when the short-run average-total-cost curve is horizontal. d. When long-run average total costs are increasing, the firm has diseconomies of scale. e. Constant returns to scale are never present in the real world.

Price is the best predictor of an event

Indicate whether the statement is true or false