Question 1

Which one of the statements is true?​

Accepted Answer

A) ​Diminishing returns is a long-run concept while decreasing returns to scale is a short-run concept. 
B) Diminishing returns is a short-run concept while decreasing returns to scale is a long-run concept. 
C) Diminishing returns is a both short and long-run concept while decreasing returns to scale is a short-run concept. 
D) ​Diminishing returns is a long-run concept while decreasing returns to scale is a short and long-run concept. 
A) ​Diminishing returns is a long-run concept while decreasing returns to scale is a short-run concept. 
B) Diminishing returns is a short-run concept while decreasing returns to scale is a long-run concept. 
C) Diminishing returns is a both short and long-run concept while decreasing returns to scale is a short-run concept. 
D) ​Diminishing returns is a long-run concept while decreasing returns to scale is a short and long-run concept.

Question 2

​When a firm is experiencing decreasing marginal costs,it implies

Accepted Answer

A) ​marginal productivity is decreasing 
B) workers are getting more unproductive 
C) a constant marginal productivity 
D) ​increasing marginal productivity 
A) ​marginal productivity is decreasing 
B) workers are getting more unproductive 
C) a constant marginal productivity 
D) ​increasing marginal productivity

Question 3

​Which of the following is true

Accepted Answer

A) ​Increasing output always leads to increase in profits 
B) Increasing outputs increase profits if price is above marginal cost 
C) Increasing output increases profits if price is lea than marginal costs 
D) ​Increasing output always decreases profits 
A) ​Increasing output always leads to increase in profits 
B) Increasing outputs increase profits if price is above marginal cost 
C) Increasing output increases profits if price is lea than marginal costs 
D) ​Increasing output always decreases profits

Which one of the statements is true?

When a firm is experiencing decreasing marginal costs,it implies

Which of the following is true

The One Lessor of Business

Benefits, Costs, and Decisions

Extent How Much Decisions

Investment Decisions: Look Ahead and Reason Back

Simple Pricing

Understanding Markets and Industry Changes

Market Structure and Long Run Equilibrium

Strategy: the Quest to Keep Profit From Eroding

Foreign Exchange, Trade, and Bubbles

More Realistic and Complex Pricing

Direct Price Discrimination

Strategic Games

Bargaining

Making Decisions With Uncertainty

Auctions

The Problem of Adverse Selection

The Problem of Moral Hazard

Getting Employees to Work in the Firms Best Interest

Getting Divisions to Work in the Firms Best Interest

Managing Vertical Relationships

Filters

Exam 6: Economies of Scale and Scope