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ECONOMICS Identify two trends that you can find in these data. $$ \begin{matrix}\text{Stock Market Data}\\\end{matrix} $$ $$ \begin{matrix} & \text{Number of} & \text{Dow Jones}\\ & \text{Shares Traded} & \text{Industrial Average}\\ & \text{(millions)} & \text{(average daily close)}\\\text{January 2007} & \text{35,410} & \text{11,359.25}\\ \text{February 2007} & \text{42,491} & \text{12,014.98}\\\text{March 2007} & \text{47,345} & \text{11,895.42}\\\text{April 2007} & \text{41,109} & \text{11,012.01}\\\text{May 2007} & \text{39,882} & \text{10,891.11}\\ \end{matrix} $$ Verified answer Recommended textbook solutions
Other Quizlet setsRelated questionsWhen the long run average cost curve is falling?long-run average cost (LRAC) curve
On the left, at the point where the LRAC curve has zero slope, the firm is experiencing constant returns to scale. In the decreasing part of the LRAC, long-run average costs are falling due to teamwork and specialization so the firm is experiencing increasing returns to scale.
When the long run average cost curve is downward sloping?The Long Run Average Cost Curve shows how the average costs of a firm evolve over time. As the curve slopes down the cost per unit shrinks as seen in the change from point A to point B. The downward sloping portion of the curve is an economy of scale, the average cost rises proportionately less to output.
What is a long run average cost curve quizlet?Long Run Average Cost Curve. A curve that indicates the lowest average cost of production at each rate of output when the size of the firm is allowed to vary. Economies of Scale. An increase in a firm's scale of production leads to lower costs per unit produced.
What shifts the long run average cost curve?Shifting Patterns of Long-Run Average Cost
New developments in production technology can shift the long-run average cost curve in ways that can alter the size distribution of firms in an industry.
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If a long-run average cost curve is falling from left to right is an example Quizlet
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