Figure 7.4.2 -The Cost-Output Elasticity Equals 1.4. This Implies That

question 176

Multiple Choice

Figure 7.4.2
-The cost-output elasticity equals 1.4. This implies that:

• A) there are neither economies nor diseconomies of scale.
• B) there are economies of scale.
• C) there are diseconomies of scale.
• D) marginal cost is less than average cost.

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Definitions:

Thalamus

A structure in the brain located above the brainstem, that serves as a relay station for transmitting sensory information to the cerebral cortex.

Hormone

Chemical messengers produced by the endocrine glands that regulate various body functions and processes.

Gland

An organ in the body that secretes particular chemical substances for use in the body or for discharge into the surroundings.

Neurotransmitter

Chemicals in the nervous system that transmit signals across a synapse from one neuron to another, influencing mental processes and behavior.