Economies of Scale Are Reductions in Average

question 22

Multiple Choice

Economies of scale are reductions in average

• A)Total cost that result from declining average fixed costs.
• B)Fixed cost that result from reducing the firm's scale of operations.
• C)Total cost that result from using operations of larger size.
• D)Fixed cost resulting from improved technology and production efficiency.

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Definitions:

Ethical Criteria

Standards or principles used to determine the rightness or wrongness of an action, often based on moral considerations.

Constituents

Individuals or groups who have a stake in or are affected by an organization's actions, decisions, and policies.

Canons of Justice

Principles or standards that guide fairness and equity in economic distribution, legal practices, and public policy.

Decision Making

The cognitive process of selecting a course of action among multiple alternatives, often based on a systematic evaluation.