In the long run, if a very small factory were to expand its scale of operations it is likely that it would initially experience ?

Related Mcqs:

If a production function exhibits diminishing marginal product the slope of the corresponding total-cost curve ?

A. is liner (a straight line) B. could be any of these answers C. becomes steeper as the quantity of output increases D. become flatter as the quantity of output increases....

If marginal costs equal average total costs ?

A. average total cost is falling B. average total cost is raising C. average total cost is maximized D. average total cost is minimized...

Economic profit is equal to total revenue minus ?

A. variable costs B. implicit costs C. explicit costs D. marginal costs...

Which of the following statements is true ?

A. All costs are fixed in the short run. B. All costs are variable in the long run C. All costs are variable in the short run D. All costs are fixed in the long run...

If as the quantity produced increase a production function first exhibits increasing marginal product and later diminishing marginal product, the corresponding marginal-cost curve will ?

A. be flat (horizontal) B. slope upward C. slope downward D. be U-shaped....