In the long run, when marginal cost is above average total cost, the average total cost curve exhibits
a. economies of scale.
b. diseconomies of scale.
c. constant returns to scale.
d. efficient scale.
b
Economics
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When looking at economic growth in a country, the distribution of output and income
A) is shared equally. B) is skewed toward the lowest quintile of the population. C) generally follows predictable patterns. D) is not taken into consideration.
Economics
The copper, aluminum, cement, and industrial alcohol industries are examples of:
A. interproduct competition. B. homogeneous oligopoly. C. monopolistic competition. D. differentiated oligopoly.
Economics