Economies of Scale Refer to the Range of Output Over

question 437

Multiple Choice

Economies of scale refer to the range of output over which

• A) marginal cost exceeds average cost.
• B) the long-run average cost falls as output increases.
• C) the marginal product of labor diminishes.
• D) the long-run average cost is lower than the short-run average total cost.

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Definitions:

Lambdoid

Pertaining to the lambdoidal suture, the cranial suture between the parietal bones and the occipital bone.

Coronal

Pertaining to the plane dividing the body into anterior and posterior portions, also referred to as the frontal plane.

Deviated Septum

A condition where the nasal septum, the bone and cartilage dividing the nasal cavity, is off-center or crooked, often causing breathing difficulties.

Vomer Bone

A thin, flat bone forming part of the nasal septum, which divides the left and right airways in the nose.