The Long-Run Average Total Cost of Producing 100 Units of Output

question 277

Multiple Choice

The long-run average total cost of producing 100 units of output is $4,while the long-run average cost of producing 110 units of output is $4.These numbers suggest that between 100 and 110 units of output,the firm producing this output has:

• A)economies of scale.
• B)diseconomies of scale.
• C)constant returns to scale.
• D)diminishing returns.

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Definitions:

Professional Coders

Individuals skilled in converting healthcare diagnoses, procedures, medical services, and equipment into universal medical alphanumeric codes.

Directional Term

A term used to describe the location of one anatomical structure in relation to another.

Cephalad

A directional term used in anatomy and medicine to indicate moving towards the head or situated near the head.

Inferior

Positioned below or lower in rank, quality, or importance.