Which of the Following Refers to a Short Run Phenomenon

question 108

Multiple Choice

Which of the following refers to a short run phenomenon?

• A) economies of scale
• B) constant returns to scale
• C) diseconomies of scale
• D) diminishing returns

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Definitions:

Moral Principles

Fundamental beliefs regarding what is right, fair, and just, which guide individuals’ behavior and decision-making processes.

High-Performance Work Practices

A set of management practices that aim to enhance organizational performance by improving employee involvement, commitment, and competencies.

Competitive Advantage

A condition or circumstance that puts a company in a favorable or superior business position compared to its competitors.

Human Capital

Human capital represents the knowledge, skills, competencies, and attributes embodied in individuals that facilitate the creation of personal, social, and economic well-being.