Refer to Figure 21

question 68

Multiple Choice

Refer to Figure 21.5. Diseconomies of scale begin to occur

• A) At the minimum points on all five ATC curves.
• B) After the third factory.
• C) After the fourth factory.
• D) After the first factory.

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Definitions:

Hague Evidence Convention

The Hague Evidence Convention is an international treaty that provides procedures for the transmission of evidence across borders for use in legal proceedings.

Tariffs

Taxes or duties to be paid on a particular class of imports or exports, used by governments to regulate trade.

Nontariff Barrier

Trade restrictions that don't involve tariffs, such as quotas, embargoes, or regulations, affecting the import or export of goods.

Arbitration

A form of alternative dispute resolution where an impartial third party, the arbitrator, makes a decision in a conflict that is binding on the parties involved.