Economies of scale
A) lead to rising long-run average costs as output increases.
B) occur if output more than doubles when all inputs are doubled.
C) occur if output less than doubles when all inputs are doubled.
D) occur when management complexity brings rising average cost.
B
Economics
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For a perfectly competitive firm, price is the same as
A) marginal revenue. B) average variable cost. C) total revenue. D) Both answers A and B are correct.
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Congress authorized a second Bank of the United States partly in response to:
A) difficulty in funding the American Revolution B) difficulty in funding the War of 1812 C) difficulty in funding the Industrial Revolution D) difficulty in funding the Civil War
Economics