When a firm experiences continually declining average total costs,
a. the firm is a price taker.
b. society is better served by having one firm supply the product.
c. the firm will earn higher profits than if average total costs are increasing.
d. All of the above are correct.
b
Economics
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Public service announcements, mandatory health warnings on cigarette packages, and the prohibition of cigarette advertising on television are all policies aimed at shifting the demand curve for cigarettes to the right
a. True b. False Indicate whether the statement is true or false
Economics
Fixed costs exist only in the:
A. long run when some inputs are fixed. B. long run when all inputs are fixed. C. short run when all inputs are fixed. D. short run when some inputs are fixed.
Economics