A firm that experiences economies of scale has a ______ average cost curve.

If the price level falls, the money demand curve will

a) shift to the right b) shift to the left c) become steeper d) become flatter e) none of the above

According to the water and diamond paradox, the value of a good to a person depends on how many utils are derived from the first unit of a good consumed

Indicate whether the statement is true or false