Use the Figure Below to Answer the Following Question

question 105

Multiple Choice

Use the figure below to answer the following question.
Figure 11.4.3
-Refer to Figure 11.4.3 which shows a firm's long-run average total cost curve.An increase in production from Q₁ to Q₂ sweaters per day produces

• A)the minimum efficient scale.
• B)economies of scale.
• C)diseconomies of scale.
• D)constant total costs.
• E)constant returns to scale.

---

Definitions:

Likert Scale

A psychometric scale commonly involved in research that employs questionnaires, designed to gauge the attitude or response of a subject towards a set of criteria, using a linear scale.

Reliability

The degree to which an assessment tool produces stable and consistent results over multiple administrations or applications under the same conditions.

Validity

The extent to which a concept, conclusion, or measurement is well-founded and likely corresponds accurately to the real world.

100% Reliable

An absolute level of dependability and consistency in performance or outcome that is often considered unachievable in practice.