A ____ total cost function implies that marginal costs ____ as output is increased

A large aircraft manufacturer, like Boeing, may have a cost advantage over a new smaller manufacturer because of:

a. diseconomies of scale. b. economies of scale. c. diminishing returns to a fixed factor of production. d. the principal agent problem is generally less severe for larger firms.

Workers earn more than half of the income generated by the production process

a. True b. False Indicate whether the statement is true or false