Assume a given amount of output can be produced by several small plants or one large plant with identical minimum per-unit costs.This long-run situation reflects the existence of
A) Economies of scale.
B) Diseconomies of scale.
C) Constant returns to scale.
D) Diminishing returns.
Correct Answer:
Verified
Q65: Economic cost
A)Includes both implicit and explicit costs.
B)Is
Q66: Diseconomies of scale are reflected in
A)The downward-sloping
Q67: Economies of scale
A)Exist in both the short
Q68: Implicit costs
A)Include only payments to labor.
B)Are the
Q69: Accounting costs and economic costs differ because
A)Economic
Q71: When the size of a factory (and
Q72: The period in which there are no
Q73: Explicit costs
A)Include only payments to labor.
B)Are the
Q74: Megan used to work at the local
Q75: Which of the following statements about the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents