Economies of Scale

question 179

Multiple Choice

Economies of scale

• A)account for the downward-sloping portion of the long-run average cost curve.
• B)occur when an increase in resources causes a less-than-proportionate increase in output.
• C)suggest that the firm's marginal cost curve lies above its average cost curve.
• D)suggest that the firm's marginal cost curve is declining.
• E)are represented by the declining portion of the average fixed cost curve.

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Definitions:

Response

A reaction to a specific stimulus or situation, which can be physical, emotional, or cognitive.

Unconditioned Stimulus

A stimulus that inherently triggers a physiological or emotional response without prior conditioning or learning.

Chemotherapy

A type of cancer treatment that uses one or more anti-cancer drugs as part of a standardized chemotherapy regimen.

Nausea

A feeling of sickness with an inclination to vomit.