In some industries, like insurance, both small and very large firms coexist and compete quite effectively in the market. This indicates that the long-run average total cost curve in these industries
a. is "U" shaped.
b. is downward sloping over all levels of output.
c. exhibits constant returns to scale over a wide range of output.
d. exhibits diseconomies of scale beginning at a low rate of output.
C
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Historically, the United States has experienced
A) no changes in the unemployment rate since World War II. B) periods of both increases and decreases in the unemployment rate since World War II. C) continuous increases in the unemployment rate since World War II. D) continuous decreases in the unemployment rate since World War II.
Capital outflows in the balance of payments accounts include
a. purchases of financial assets by U.S. residents. b. direct investments in foreign countries. c. indirect investments in foreign countries. d. purchases of U.S. real estate by foreigners. e. all of the above