ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Which of the following is not a property of a firms
cost curves?
Select one:
a.
O b.
O c.
Marginal cost must eventually rise as a
result of diminishing marginal product.
Average total cost is U-shaped.
Economies of scale will exist when average
total cost falls as output rises.
d. Average total cost will cross marginal cost
at the minimum of marginal cost.
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Transcribed Image Text:Which of the following is not a property of a firms cost curves? Select one: a. O b. O c. Marginal cost must eventually rise as a result of diminishing marginal product. Average total cost is U-shaped. Economies of scale will exist when average total cost falls as output rises. d. Average total cost will cross marginal cost at the minimum of marginal cost.
A negative externality will cause a private market to
produce
Select one:
a. less than is socially desirable.
O b. more than is socially desirable.
c.
less than the same market would produce
in the presence of a positive externality.
O d. exactly the quantity that is socially
desirable.
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Transcribed Image Text:A negative externality will cause a private market to produce Select one: a. less than is socially desirable. O b. more than is socially desirable. c. less than the same market would produce in the presence of a positive externality. O d. exactly the quantity that is socially desirable.
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