Which of the Following Is a Long-Run Concept

question 22

Multiple Choice

Which of the following is a long-run concept?

• A)Diminishing marginal productivity.
• B)Diminishing returns.
• C)Diseconomies of scale.

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Definitions:

Disadvantages

The negative or less favorable aspects of a situation, decision, or business strategy.

Franchisor

A business entity that allows individuals or other businesses to operate a location or outlets under its brand name, providing a business model, brand, and support in exchange for fees and adherence to its operational guidelines.

Loss Of Control

The reduction or elimination of an individual's or entity's power to make decisions in a company or over its assets.

Economies of Scale

The cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.