The Shape of a Firm's ________ -Run Average Cost Curve

question 7

Multiple Choice

The shape of a firm's ________ -run average cost curve depends on how costs vary with ________.

• A) short; scale of operations
• B) short; no fixed factor of production
• C) long; scale of operations
• D) long; a fixed factor of production

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Definitions:

Somatic

Relating to or affecting the body, distinct from the mind or psyche.

Autonomic Nervous System

A part of the peripheral nervous system that controls involuntary body functions, including heart rate, digestion, and respiratory rate.

Somatic

Relating to or affecting the body, especially as distinct from the mind or psyche.

Sympathetic

Pertaining to the sympathetic nervous system, which activates the body’s fight or flight response under stress.