What is meant by increasing returns to scale?

What will be an ideal response?

Increasing returns to scale implies that an increase in the firm's scale of production leads to lower average costs per unit produced.

Economics

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In terms of capital budgeting, explain the difference between risk and uncertainty

What will be an ideal response?

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Economics

When the Fed increases the money supply, interest rates:

a. rise. b. fall. c. are unaffected. d. rise and then fall. e. fall and then rise.

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Economics