After 2 years of operation, the workers in XYZ Co become more adept because of their repeating work. As a result, the average cost of production is lowered due to
A) economies of scale.
B) increasing returns to scale.
C) increasing marginal returns.
D) learning by doing.
D
Economics
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The AD curve will shift when there is a change in:
A. the inflation rate or the money growth rate. B. the money growth rate or the velocity growth rate. C. the real growth rate or the inflation rate. D. the velocity growth rate or the real growth rate.
Economics
Suppose people had been paying $10 for a pizza at Little Weezer's. If their demand increases to the point where they will now pay $15 for the same pizza, then
A) the marginal cost of making pizzas would tend to increase. B) the quantity supplied of pizzas would tend to increase. C) both A and B are true. D) none of the above are true.
Economics