If an industry is characterized by economies of scale:
A) barriers to entry are usually not very large.
B) long-run average costs of production increase as the quantity the firm produces increases.
C) capital requirements are small due to the efficiency of the large-scale operations.
D) the costs of entry into the market are likely to be substantial.
D
Economics
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When an economy is not in equilibrium,
A) planned expenditures exceed production and income. B) there is no savings nor investment. C) government tax revenues equal planned government expenditures. D) production and income equal planned expenditures.
Economics
The burden a tax places on buyers versus sellers is:
A. independent of which side is charged the tax. B. always split in half. C. never shared. D. depends on which side is charged with the tax.
Economics