The tax cuts of 2008 were valued at approximately one percent of GDP

Indicate whether the statement is true or false

TRUE

Economics

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If producing more output has no effect on average cost then

A) there are diseconomies of scale. B) there are economies of scope. C) there are diseconomies of scope. D) there are no economies of scale.

Economics

Exhibit 6-1 Production of pizza data Workers Pizzas 0   0 1   4 2 10 3 15 4 18 5 19 Exhibit 6-1 shows the change in the short-run production of pizzas as more workers are hired. The table shows the marginal product of the labor input is decreasing with the hiring of the third worker. A possible reason for this diminishing marginal product is:

A. decreases in labor productivity. B. increases in plant size. C. decreases in fixed cost. D. increased division of labor as additional workers are hired.

Economics