A downward-sloping portion of a long-run average total cost curve is the result of
a. economies of scale.
b. diseconomies of scale.
c. diminishing returns.
d. the existence of fixed resources.
A
Economics
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Which of the following might increase the supply curve of labor?
a. Increasing licensing requirements. b. Increasing discrimination against females. c. Increasing discrimination against blacks. d. All of the above. e. None of the above.
Economics
The demand for a specific brand of corn flakes cereal is likely to be:
A. very price elastic, because there are many close substitutes available. B. less price elastic, because there are many close substitutes available. C. very price elastic, because that specific brand is a unique product. D. less price elastic, because the specific brand is a unique product.
Economics