Refer to the graphs below. They show the long-run average total cost (LRATC) for cars. Just after World War II the Ford Motor Company opened a large automobile manufacturing facility near Detroit with capacity Q0 autos per year. Shortly thereafter, the plant was closed and two smaller ones were opened in the same vicinity, each more profitably producing about one-half as many cars as the old facility. Which graph best shows the situation described above, when only one plant was operating?
A. Graph A
B. Graph B
C. Graph C
D. Graph D
D. Graph D
Economics
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A depression is
A) the period of time following a peak in the business cycle. B) a sustained economic upturn. C) another word for a bull market. D) a severe recession.
Economics
From 1800 to 1940, the price level in the United States
A) trended neither upward nor downward. B) fluctuated wildly. C) declined slowly. D) increased slowly.
Economics