If an airport decides to expand by building an additional passenger terminal, and in doing so it lowers its average cost per airplane landing, then the expansion would provide ________ to the airlines
A) higher marginal costs but lower total costs B) higher average costs but lower total costs
C) economies of scale D) diseconomies of scale
C
Economics
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Government invention is required to solve externality problems if ________
A) transaction costs associated with private negotiations are low B) the number of people affected by the externality is small C) the number of people affected by the externality is large D) property rights are clearly defined
Economics
Output expanded and was distributed toward wartime uses and away from private uses only during World War I (1914–18), not World War II (1941–45). The high unemployment of the 1940s made this possible
Indicate whether the statement is true or false
Economics