According to the Coase theorem, whatever the initial distribution of rights, the interested parties can bargain to an efficient outcome

The two functions that are critical to the key role that commercial banks play in stabilizing the economy are accepting deposits and making loans

Indicate whether the statement is true or false

A manufacturer of towels finds that his returns to scale are constant. Which of the following conclusions can be drawn?

a. The long-run total cost curve is horizontal. b. The long-run average cost curve is horizontal. c. The long-run total cost curve is downward sloping. d. The long-run average cost curve is downward sloping.