Economies of Scale Refer to the Range of Output Over

question 81

Multiple Choice

Economies of scale refer to the range of output over which

• A)long-run average cost rises as output increases.
• B)marginal cost exceeds average cost.
• C)long-run average cost falls as output increases.
• D)the marginal product of labour decreases.
• E)marginal product equals average product.

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Definitions:

Internal

Referring to something situated inside or within; often related to processes or features within an organism or system.

Cognitive Approach

A psychological perspective that focuses on how people think, understand, and know about the world.

Motive States

Psychological conditions that energize and direct behavior towards specific goals or needs fulfillment.

Environmental Factors

Components of the physical and social world that can influence individuals' behaviors, attitudes, and well-being.