Economies of scale are indicated by Multiple Choice the rising segment of the average variable cost curve. the declining segment of the long-run average total cost curve. the difference between total revenue and total cost. a rising marginal cost curve.

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A: Introduction Price elasticity of demand tells how much price is responsive to demand whereas price…

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Q: TRUE OR FALSE. When the wage rate increases by 20% & the quantity supplied of labor increases by 5%,…

A: Wage elasticity of labor supply = % change in Labor supply% change in wages

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Q: Question 5 Other things being equal, the higher the value of elasticity; the more likely the…

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Q: 63. A farmer can produce 10,000 pears if he uses the whole of his one-acre farmland. If he uses the…

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