Answer to Question #181938 in Macroeconomics for James

Question

QUESTION 28

The shape of the long-run average cost curve:

1. Is different for firms producing goods than for firms producing services.
2. Is identical for all firms.
3. Has implications for how many firms will compete in an industry.
4. Determines precisely how many firms will compete in an industry.
5. Is a bell curve.

QUESTION 29

People and economic activity are concentrated in cities because:

1. The climate is better there.
2. Geography teachers promote city life.
3. Grouping economic activity is more productive in many cases.
4. Dispersing economic activity is more productive in many cases.
5. All of the above.

QUESTION 30

The shape of the long-run average cost curve reveals whether competitors:

1. Will collude on prices.
2. Will collude on output.
3. In the market will be different sizes.
4. Will play fairly.
5. Will eat crow.

Answer 1

QUESTION 28, ANSWER =option 2

QUESTION 29, ANSWER= option 4

QUESTION 30,ANSWER=option 3