Economics Discussion Question

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ECON
Read the section Cities as Economies of Scale, and page 165 in text 4th ed, in modules under city
and answer the following questions:
Why are people and economic activity concentrated in cities?
In poor countries, why is there a smaller concentration of people living in cities than in wealthier
countries?
If cities offer economic advantages, why don’t all or most people live in one giant city?
Several reasons in this reading section are listed that explain why agglomeration economies must
turn into diseconomies. Based on your general knowledge, what might agglomeration economies
do in order to avoid diseconomies of scale?
How are total costs related to profits?
What is the difference between fixed costs and variable costs? List personal examples of fixed
costs and variable costs that you might incur.
Are fixed costs also sunk costs?
In choosing a production technology, how will firms react if one input, such as labor, becomes
more expensive?
Why will firms in most markets be located at or close to the bottom of the long-run average cost
curve?

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Explanation & Answer:
500 words

Tags:
economic activities

countryside

business market

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