Economies of Scale Occur When the Percentage Increase in Output

question 326

Multiple Choice

Economies of scale occur when the percentage increase in output

• A) exceeds the percentage increase in all inputs.
• B) is less than the percentage increase in all inputs.
• C) exceeds the percentage decrease in all inputs.
• D) is less than the percentage decrease in all inputs.

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Definitions:

Operating Objective

A specific, measurable goal that an organization seeks to achieve in its day-to-day operations to meet its strategic aims.

Strategic Management

The ongoing planning, monitoring, analysis, and assessment of all necessities an organization needs to meet its goals and objectives, with a focus on long-term strategic direction.

Strategy Formulation

The process of identifying strategic goals, generating and evaluating strategic options, and selecting the appropriate strategies for implementation.

Strategy Implementation

The process of executing plans and strategies to achieve organizational goals and objectives.