Assume a Given Amount of Output Can Be Produced by Several

question 130

Multiple Choice

Assume a given amount of output can be produced by several small plants or one large plant with identical minimum per-unit costs.This long-run situation reflects the existence of

• A)Economies of scale.
• B)Diseconomies of scale.
• C)Constant returns to scale.
• D)Diminishing returns.

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Definitions:

Distribution

The process of making a product or service available for use or consumption by a consumer or business, involving logistics, supply chain, and marketing strategies.

Political Science

The academic discipline that studies governments, political processes, political behavior, and political policies.

Politics

The activities associated with the governance of a country or area, especially the debate between parties having power.

Power

The ability or capacity to do something or act in a particular way, especially as a faculty or quality.