All of these could be sources of economies of scale except
a. Investment in more efficient technology
b. Specialization
c. A bottleneck procedure
d. Discounts on bulk purchase of inputs
c
Economics
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The equation for the tax multiplier is
a. 1 b. MPS/(1 - MPC) c. (1 - MPC)/MPC d. (1 - MPC)/MPC e. MPC/(1 - MPC)
Economics
When economists compare monopoly to the monopolistic competitive market, they show that the latter generates
a. fewer choices for consumers b. higher prices for consumers c. higher economic profit (the sum of the economic profit of all firms) d. less output because monopolies are more efficient e. lower prices for consumers
Economics