A firm that has declining marginal output would be experiencing __________.
Fill in the blank(s) with the appropriate word(s).
diminishing returns
Economics
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Regarding the production of health care, more recent studies suggest that:
A) economies of scale exist up to a hospital size of approximately 500 beds. B) hospitals of many different sizes can compete effectively with each other on the basis of cost. C) the LRAC curve exhibits significant diseconomies of scale beginning with a hospital size of approximately 100 beds. D) the LRAC for hospitals exhibits a very distinct U shape.
Economics
What is a balance-of-payments surplus?
What will be an ideal response?
Economics