Which of the Following Is FALSE

question 69

Multiple Choice

Which of the following is FALSE?

• A) In the long run, the firm has no fixed inputs.
• B) In the long run, both the amount of capital and labour used by the firm can be changed.
• C) Fixed costs increase in the long run.
• D) As a firm produces more output, eventually it experiences diseconomies of scale.
• E) Long-run average variable costs equal long-run average total costs.

Understand the concept and significance of the medical model in explaining abnormal behavior.

Recognize the criteria for determining abnormal behavior, including maladaptiveness and deviations from cultural norms.

Explain the process and importance of diagnosis and prognosis in psychological disorders.

Critique the medical model and understand alternative perspectives.

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Definitions:

Variable Cost

Expenses that change in proportion to the volume of goods or services produced by a business.

Activity

An event that causes the consumption of overhead resources in an organization.

Cost Driver

A factor that causes a change in the cost of an activity, such as machine-hours or labor hours, used in determining pricing and profitability.

Flexible Budgets

Budgets that adjust or flex with changes in the volume or level of activity.