Which of the following is NOT a reason why a firm may experience economies of scale?
A) productive specialization
B) dimensional factors
C) improved productive equipment
D) increased layers of management
Answer: D
Economics
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Suppose that the profit maximizing level of output for the monopolist is 10 units, and price = $50, ATC = $35, and AVC = $25. What is the monopoly's profit?
A) $50 B) $150 C) $250 D) $500
Economics
If the number of sellers decreases, the
A. supply curve will shift to the right. B. demand curve will shift to the right. C. demand curve will shift to the left. D. supply curve will shift to the left.
Economics