In the Long Run, Firms Reduce Capital Input Under Which

question 37

Multiple Choice

In the long run, firms reduce capital input under which of the following conditions?

• A)Economies of scale
• B)Diseconomies of scale
• C)Constant returns to scale
• D)When average total cost increases with output
• E)When price equals marginal cost

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Definitions:

Individual's Personality

The unique combination of emotional, attitudinal, and behavioral response patterns of an individual.

Openness to Experience

A personality trait that features a person's willingness to try new things, engage in abstract thinking, and appreciate art, emotion, adventure, and unusual ideas.

Big Five

Refers to the five broad personality traits considered to describe human personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Hostile Attribution Bias

The tendency to interpret others' behaviors as having hostile intent, even when the behavior is ambiguous or benign.