When a firm experiences economies of scale, long-run average total cost falls as the quantity of output increases
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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Which of the following would eliminate scarcity as an economic problem?
a. Resumption of the steady productivity growth. b. Discovery of sufficiently large new energy reserves. c. Moderation of people's competitive instincts. d. None of these choices.
Economics
Consider the table below, in which each production choice represents a point on a production possibility curve.ChoiceEggsRyeA100B810C620D430E240F050This production possibility table could be graphed as a:
A. curved line with negative slope. B. straight line with negative slope. C. straight line with zero slope. D. curved line with positive slope.
Economics