If a firm enjoys economies of scale, _____.
(A) Its average total cost will increase as production increases.
(B) Its total costs will decrease as production increases.
(C) Its average total cost will decrease as production increases.
(D) Its marginal revenue will increase as production increases.
Ans: (C) Its average total cost will decrease as production increases.
You might also like to view...
Since most welfare programs are administered by the federal government, there is uniformity in both eligibility and the dollar value of benefits in a state by state comparison
a. True b. False
The real wage will rise if the nominal wage:
A. falls more rapidly than the general price level. B. increases at the same rate as labor productivity. C. increases more rapidly than the general price level. D. falls at the same rate as the general price level.