If a Firm Experiences Economies of Scale,its Long-Run Average Cost

question 4

Multiple Choice

If a firm experiences economies of scale,its long-run average cost curve is

• A) a horizontal line.
• B) downward sloping.
• C) a vertical line.
• D) upward sloping.
• E) U-shaped.

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Definitions:

Homozygous

Possessing two identical alleles for a particular trait.

Guinea Pigs

Small rodents widely used as pets and in scientific research, belonging to the species Cavia porcellus.

Dominant Phenotype

Refers to the trait that appears in an individual's phenotype when at least one dominant allele for a particular gene is present.

Recessive Phenotype

An observed trait or characteristic of an organism that results from having two recessive alleles for a particular gene.