Diseconomies of scale occur when
A) long-run average costs rise as a firm increases its output.
B) long-run average costs fall as a firm expands its plant size.
C) short-run average costs rise as a firm expands its plant size.
D) long-run labor costs rise as a firm increases its output.
Answer: A
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In a recession, consumers have less income to spend. As a result, if dining out is a normal good, then which of the following would happen to the demand curve for dining out?
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Comparing Tobin's model of the speculative demand for money with Keynesian speculative demand
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