A. increasing returns to scale
B. decreasing returns to scale
C. constant returns to scale
D. the minimum efficient scale
A. Buyer power is higher
B. Supplier power is higher
C. Substitute threat is higher
D. Rivalry is lower
A. The marginal cost will shift outwards
B. the demand curve will shift inwards
C. The average cost will shift downwards
D. The average variable cost will increase
A. Product
B. Price
C. Place
D. Presence
A. the minimum of their average-total-cost curves
B. all of these answers are correct
C. their efficient scale
D. zero economic profit
E. intersection of marginal cost and marginal revenue
A. perfectly inelastic
B. perfectly elastic
C. upward slog
D. downward slog
A. marginal revenue
B. marginal cost
C. average total cost
D. average revenue
A. variable costs of staying open are less than the total revenue due to staying open.
B. total costs of staying open are less than the total revenue due to staying open
C. variable costs of staying open are greater than the total revenue due to staying open
D. total costs of staying open are greater than the total revenue due to staying open
A. Upward-slog portion of the average total cost curve
B. upward-slog portion of the average variable cost curve
C. portion of the marginal cost curve that lies above the average total cost curve.
D. entire marginal cost curve.
E. portion of the marginal-cost curve that lies above the average variable cost curve
A. price equals average variable cost
B. marginal revenue equals average revenue
C. marginal cost equals total revenue
D. marginal cost equals marginal revenue