Use the following graph to answer the next question.
A firm that has the long-run cost curves shown in the graph above would not be able to ________.
A. exploit economies of scale
B. serve an increasing share of the market at lower and lower unit costs
C. attain lower unit costs by reducing its output level
D. have an entry barrier protecting it from new entrants into the market
Answer: C
Economics
You might also like to view...
The result that the growth rate of output per worker is equal to 1.43 × is ________
A) true of the Solow model only B) true of both the Solow model and the Romer model C) true of the Romer model only D) true under the common-law legal system only
Economics
"To each according to what he or she produces" describes the ________ theory of income determination.
A. equity B. productivity C. needs D. egalitarian
Economics