Capital resources include money and other financial assets

If production displays diseconomies of scale, the long-run average cost curve is

A) above the long-run marginal cost curve. B) downward sloping. C) above the short-run average total cost curve. D) upward sloping.

In a competitive market, the actions of any single buyer or seller will

a. have a negligible impact on the market price. b. have little effect on market equilibrium quantity but will affect market equilibrium price. c. affect marginal revenue and average revenue but not price. d. adversely affect the profitability of more than one firm in the market.