When long-run average costs are declining for the entire range of demand, the firm is known as a(n):

Explain the differences between a market system, a command economy, and a mixed economy with respect to production and distribution decisions

What will be an ideal response?

For any given family of indifference curves, a consumer would prefer to be at a point:

A. on the indifference curve that is closest to the origin. B. that is far to the right on an indifference curve. C. that is far to the left on an indifference curve. D. on the indifference curve that is farthest from the origin.