Average total 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: C
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Under a fixed exchange rate regime, a country that depletes its international reserves in an attempt to keep its currency from ________ will be forced to ________ its currency
A) depreciating; revalue B) depreciating; devalue C) appreciating; revalue D) appreciating; devalue
When nations trade according to their comparative advantages,
a. one nation has an absolute advantage in producing all goods b. all opportunity costs of production are the same c. world economic efficiency falls d. at least one country is made better off through trade e. at least one country is made worse off through trade