Assume a Given Amount of Output Can Be Produced by Several

question 70

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.

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Definitions:

Primary Drives

Basic, biological urges or needs, such as hunger and thirst, that motivate behavior.

Salmon

A species of fish that is known for its remarkable lifecycle, which includes freshwater birth, oceanic life, and returning to fresh water to spawn.

Upstream

In a metaphorical sense, upstream refers to actions or interventions taken at the early stages or causes of a problem, rather than addressing its consequences.

Primary Drive

Fundamental biological drives such as hunger, thirst, and sleep that are essential for survival.