What are economies of scale?
a. decreasing average costs as production increases
b. increasing average costs as production increases
c. increasing fixed costs as production increases
d. none of the above
a
Economics
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The main reason that the United States has such a high standard of living is
A) low unemployment. B) high average labor productivity. C) low inflation. D) high government budget deficits.
Economics
According to Tobin's q theory, when equity prices are high the market price of existing capital is ________ relative to new capital, so expenditure on fixed investment is ________
A) cheap; low B) dear; low C) cheap; high D) dear; high
Economics