Economies of scale occur when
A) a firm's long-run average total costs fall as it increases the quantity of output it produces.
B) the marginal product of labor is greater than the average product of labor.
C) the demand for a firm's output increases.
D) short-run marginal cost falls.
A
Economics
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The standard of living is measured by
A) employment. B) the population. C) real GDP per person. D) real GDP. E) employment per person.
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Money neutrality states that
A) with money, one can still use the representative agent. B) changes in money do not affect real aggregates. C) changes in inflation do not affect real aggregates. D) monetary policy is independent from politics.
Economics