When the curve that envelops the series of possible short-run average total cost curves is horizontal, this means that there are:
a. economies of scale.
b. diseconomies of scale.
c. constant returns to scale.
d. diminishing returns.
e. some fixed factors of production.
c
Economics
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An __________ is one in which is it not possible, through any change in the distribution of Good X or Good Y, to benefit one person without making some other person worse off.
Fill in the blank(s) with the appropriate word(s).
Economics
Which of the following macroeconomic variables is procyclical and leads the business cycle?
A) Business fixed investment B) Residential investment C) Nominal interest rates D) Unemployment
Economics