If Constant Returns to Scale Are Present

question 23

Multiple Choice

If constant returns to scale are present,

• A)average total cost is decreasing.
• B)average total cost is increasing.
• C)the LRAC curve is horizontal.
• D)the LRAC curve is downward sloping.
• E)the LRAC curve is upward sloping.

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Definitions:

Demographic Characteristics

Demographic characteristics refer to the statistical aspects of populations, such as age, gender, income level, education, and ethnicity, often used in research for analysis.

Tailored Marketing

Customized marketing strategies designed to meet the specific needs of a targeted group of customers or market segments.

Refreezing

The final stage in Lewin's change model, where new behaviors are solidified into everyday practice following a change.

Lewin's Basic Change Model

A model proposed by Kurt Lewin that describes organizational change through three stages: unfreezing, changing, and refreezing.