which of these is an example of an external E.O.S.?
lack of communication within the companie
buying in bulk to reduce costs
area where the companie is located
In a diseconomy of scale the average cost may not always fall as the scale for production is increased
which of the following are fixed costs
rent
supplies
salaries
wages
utilities
insurance
In an economy of scale the average cost of a product decreases as production
rises
falls
Utility is the satisfaction a consumer gets by ❌ a product
The LRAC is made of the tangency points of several SRAFC
In the long run all inputs are
Which of the following are a type of demand
effective
integral
external
latent
income
composite
substitute
derived
equilibrium
complementary
The substitution effect says that if the prices go up then you should keep purchasing those goods
if the price of substitute goods rise then the demand curve
shifts to the right
shifts to the left
