Reductions in Minimum Average Costs That Come About Through Increases

question 106

Multiple Choice

Reductions in minimum average costs that come about through increases in the size of plants and equipment are called

• A)Barriers to entry.
• B)Economies to monopoly power.
• C)Economies of scale.
• D)Diseconomies of entry.

---

Definitions:

Making Ethical Decision

The process of choosing actions that are consistent with one's principles and values, often in a professional context.

Understand

To grasp the meaning, significance, or nature of something.

Problem

An issue or situation that presents difficulty and requires a solution.

Principle of Rights Theory

A normative theory that emphasizes the rights of individuals and the duties others have to respect those rights.