If Output Is Increased in the Long Run, Then in the Presence

question 30

Multiple Choice

If output is increased in the long run, then in the presence of internal economies of scale the number of firms will ________, and in the presence of constant external returns to scale the number of firms will ________.

• A) decrease; decrease
• B) increase; remain constant
• C) remain constant; increase
• D) decrease; remain constant
• E) increase; decrease

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Definitions:

Yankees

A term historically referring to people from the northern United States, particularly during the American Civil War era.

Anti-radical Justice Department

Refers to efforts or policies within the Justice Department aimed at suppressing or counteracting radical movements or ideologies, often through legal and law enforcement means.

France

A country in Western Europe known for its rich history, culture, and significant contributions to art, science, and philosophy.

1920s

A decade known for economic prosperity, cultural flowering, and the introduction of major technological advances in the United States and Europe.