"External economies" derive from all of the following except
(a) the joint use of transportation facilities.
(b) labor force concentrations in urban areas.
(c) social overhead facilities such as police and fire protection.
(d) economies of management associated with large firms.
(d)
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A production possibilities curve is plotted for a nation producing chairs and tables. Which of the following will cause a parallel shift in the production possibilities curve?
A) An intensive training program that increases the productivity of employees engaged in the production of tables B) An intensive training program that increases the productivity of employees engaged in the production of chairs C) An increase in the price of both chairs and tables D) An increase in the availability of raw materials required for the production of both chairs and tables
Tsintah weaves traditional Navaho rugs. She weaves and sells 50 rugs. Her average cost of production per rug is $50 . She sells each rug for a price of $65 . Tsintah's total revenues are
a. $750. b. $2,500. c. $3,250. d. $5,750.