Item19 4 points eBookReferencesItem 19 If a firm has constant returns to scale: multiple choice increasing output will not change total costs. increasing output will not change average costs. the firm is not at the efficient scale. profits are maximized.

Which of the following best describes why you need to establish goals for your program?

Scenario: you have advised the owner of bond's gym that the best thing to do would be to raise the price of a monthly membership. the owner wants to know what may happen once this price increase goes into effect. what will most likely occur after the price of a monthly membership increases? check all that apply. current members will pay more per month. the quantity demanded for memberships will decrease. the number of available memberships will increase. the owner will make more money. bond's gym will receive more membership applications.

Which of the following would cause a shift to the right of the supply curve for gasoline? i. a large increase in the price of public transportation. ii. a large decrease in the price of automobiles. iii. a large reduction in the costs of producing gasoline