Remaining Time: 2 hours, 32 minutes, 07 seconds. Question Completion Status: QUESTION 4 Increasing returns to scale occurs when average total costs are decreasing, and decreasing returns to scale occurs when average total costs are increasing. True False QUESTION 5 In terms of efficiency, perfect competition is the best, tied with Bertrand competition, followed by Cournot competition, followed by monopoly. True False QUESTION 6 A Nash equilibrium is a situation where no person has an incentive to unilaterally change strategies. True False Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save