When Production Increases, Total Costs

question 134

Multiple Choice

When production increases, total costs

• A)can increase or decrease in the long run.
• B)always increase in the short run.
• C)are constant in the long run.
• D)can increase or decrease in the short run.
• E)become zero.

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Definitions:

Experiment

A scientific procedure undertaken to make a discovery, test a hypothesis, or demonstrate a known fact through controlled observation.

Physical Mechanisms

Processes or functions within a physical system that bring about a particular outcome or effect.

Empirical Reasoning

That process of thinking that proceeds from premises describing interpersonally verifiable experiences in order to support or to disconfirm hypotheses, which, in turn, are intended to explain and predict phenomena. Empirical reasoning is fundamentally inductive, self-corrective, and open to scrutiny and independent verification by the entire scientific community.

Instruments

Tools or devices designed for a specific purpose, especially used for scientific work, measurements, or music.