You would expect that your firm is experiencing decreasing returns to scale if
a. Long run average costs increase with output
b. Long run average costs decrease with output
c. Long run average costs are constant with respect to output
d. None of the above
a
Economics
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If real GDP and the velocity of circulation do not change and the quantity of money grows by 3 percent, then in the long the inflation rate is
A) 0 percent. B) 3 percent. C) larger than 3 percent. D) -3 percent. E) More information is needed to answer the question.
Economics
The exclusive privilege to use an asset is called a(n)
A) property right. B) exclusive use agreement. C) property privilege. D) right to work privilege.
Economics