Assuming free competitive land markets, which of the following is FALSE (assuming other factors constant)? aln competitive land markets, agglomeration externalities makes urban areas to be inefficient. bCompetitive firms earn the same economic profits whether they are located in smaller or in larger cities. c Stronger economies of scale makes production more costly in larger urban areas. dAgglomeration economies in production makes wage rates to be higher in larger urban areas.

Assuming free competitive land markets, which of the following is FALSE (assuming other factors constant)? aln competitive land markets, agglomeration externalities makes urban areas to be inefficient. bCompetitive firms earn the same economic profits whether they are located in smaller or in larger cities. c Stronger economies of scale makes production more costly in larger urban areas. dAgglomeration economies in production makes wage rates to be higher in larger urban areas.

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter3: Demand, Supply, And The Market Process

Section: Chapter Questions

Problem 10CQ

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