Average variable cost for an information product would
A) first decrease and then increase as quantity increases.
B) increase constantly as quantity increases.
C) decrease constantly as quantity increases.
D) remain constant as quantity increases.
Answer: D
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The decade of the 1920s was characterized by which of the following?
(a) Economic advancements in agriculture (b) A decrease in the inequality of income and wealth (c) Consumers dramatically shifted their household demands into purchases of durable goods on credit (d) All of the above characterized the decade of the 1920s
Which of the following is most likely to be an increasing-cost industry?
a. An industry whose firms experience diseconomies of scale b. An industry whose firms experience economies of scale c. An industry that is a major buyer in the markets for the inputs it uses d. An industry that is a very small buyer in the markets for the inputs it uses e. An industry that is a major seller in the markets for its outputs