Answer to Question #181939 in Macroeconomics for James

Question

QUESTION 24

What determines whether an employer is likely to use production technologies that conserve on the number of workers or technologies with more workers and less machinery?

1. The length of the short run.
2. The length of the long run.
3. The cost of labor in the particular location.
4. The religious beliefs of the business’ owners.
5. The length of time the firm has been in operation.

QUESTION 25

Economies of scale exist:

1. When the demand for scales is high.
2. When the supply of scales is high.
3. When the larger scale of production leads to lower average costs.
4. When the larger scale of production leads to higher average costs.
5. When fish sell off their outerwear.

QUESTION 26

The long-run average cost curve will be the least expensive average cost curve:

1. Only if the employer is in Greece.
2. For any level of output.
3. Only at certain levels of output.
4. Only at the highest levels of output.
5. In the case of a shortage. 

Answer 1

QUESTION 24

The length of the long run determines whether an employer is likely to use production technologies that conserve on the number of workers or technologies with more workers and less machinery?

QUESTION 25

Economies of scale exist: When the larger scale of production leads to lower average costs.

QUESTION 26

The long-run average cost curve will be the least expensive average cost curve: For any level of output