Diseconomies of scale at the firm level occur
a. wherever the firm's long-run average cost curve is horizontal
b. wherever the firm's long-run total cost curve is horizontal
c. where marginal cost equals marginal revenue
d. if a firm becomes "too large"
e. if any of the firm's plants becomes "too large"
D
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A flat wage profile refers to
A) wage compression. B) backloaded compensation. C) an efficiency wage. D) deferred compensation.
A. tendency for policies with high short-run benefits to have high long-run costs. B. fallacy that what is true for the short run must be true for the long run. C. tendency to regularly misjudge in the present what you will do in the future. D.
tendency to misjudge how long it will take to accomplish a future task. A. Time inconsistency. B. Availability heuristic. C. Self-serving bias. D. System 2 processes dominating decision making.