A production indifference curve describes the input combinations that will produce a given output.

A natural monopoly usually arises when

A) there are diseconomies of scale in an industry. B) the government allows unrestricted access to a market. C) there are large economies of scale relative to the industry's demand. D) companies band together to form a larger company.

Minimax Motors, a car manufacturer, spent $300 million on the establishment of a new plant that includes 25 assembly lines. The new plant has 470 employees that work 5 days a week to produce 1,200 cars per week. If Minimax Motors wants to increase its output to 1,400 cars per week immediately, it should: a. increase the number of assembly lines in its plant

b. increase the number of workers in the plant. c. increase the number of workers as well as the number of assembly lines in the plant. d. open a new plant with more assembly lines and workers.