Economies of scale are indicated by
A) declining long-run AVC.
B) declining long-run AFC.
C) declining long-run AC.
D) declining long-run TC.
C
Economics
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Imperfect knowledge about a product can cause:
a. excessive resources devoted to producing a product. b. consumers paying too high a price for a product. c. overconsumption of a product. d. all of the above answers are true. e. none of the above answers a.-c. are true.
Economics
The U.S. Department of Energy is investing $60 billion in rural parts of the U.S., largely in the Great Plains, in order to develop what alternative source of energy?
a. Wind power b. Solar power c. Biofuels d. Hydroelectric
Economics