The Table Below Shows the Quantity Demanded (In Thousands) and Quantity

question 34

Multiple Choice

The table below shows the quantity demanded (in thousands) and quantity supplied (in thousands) of computers in the U.S. and Canada at different prices.Table 20.5

-Which of the following statements about an increasing-returns-to-scale industry is not true?

• A)It will tend to concentrate production in the hands of a very few large firms.
• B)Firms in the industry face higher costs per unit of production as their level of output increases.
• C)Opportunity costs may rise with the level of output in such industries.
• D)Tariffs can be used to stimulate production by a domestic industry capable of achieving increasing returns to scale.
• E)The costs of producing a unit of output fall as more output is produced in such industries.

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Definitions:

Ketone

An organic compound characterized by a carbonyl group bonded to two carbon atoms.

Organic Product

A compound containing carbon atoms that has been formed as the result of a chemical reaction involving organic molecules.

Upper Quartile

The value above which 25% of the data or population falls, marking the upper boundary of the central 50% in a distribution.

Ages of Jockeys

Refers to the distribution or range of years that professional riders of horses in races fall into.