Consider the Following Statements When Answering This Question

question 126

Multiple Choice

Consider the following statements when answering this question.
I. A technology with increasing returns to scale will generate a long-run average cost curve that has economies of scale.
II. Diminishing returns determines the slope of the short-run marginal cost curve, whereas returns to scale determine the slope of the long-run marginal cost curve.

• A) I is true, and II is false.
• B) I is false, and II is true.
• C) Both I and II are true.
• D) Both I and II are false.

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Definitions:

Slang

A type of informal language that originates within particular social groups, often characterized by colloquial expressions.

Secretary

An administrative assistant or officer tasked with handling correspondence, keeping records, and managing appointments and meetings for an individual or organization.

Chairperson

The leader or presiding officer of a committee, board, or other formal organizational meetings.

Discriminatory Sentence

A statement or ruling that unfairly prejudices or differentiates individuals or groups based on characteristics such as race, gender, age, or religion.