________ exist when the average cost of production by one firm becomes smaller as the rate of output increases
a. Diminishing marginal returns
b. Diseconomies of scale
c. Economies of scale
d. Decreasing returns to scale
c
Economics
You might also like to view...
Changes in inventories are included in which category under the expenditure approach to GDP accounting?
a. consumption b. government purchases c. investment d. net exports
Economics
Suppose a negative income tax program is established at 25 percent, and a poverty threshold minimum of $15,000 is guaranteed for a family of four. If no income is earned by this family, its total income would equal
a. $6,000 b. $15,000 c. $18,750 d. $60,000 e. $3,750
Economics