Economies of Scale Are Said to Exist When

question 141

Multiple Choice

Economies of scale are said to exist when

• A)inputs are increased by some percentage and output increases by the same percentage.
• B)inputs are increased by some percentage and output increases by a lesser percentage.
• C)inputs are increased by some percentage and output increases by a greater percentage.
• D)the LRATC curve slopes upward.
• E)none of the above

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Definitions:

Iron Law of Responsibility

A principle suggesting that long-term success of organizations is dependent on their acknowledgment and assumption of responsibilities towards society.

Society

A group of individuals who live together in a community or geographic area, sharing common cultures, traditions, and often functioning under a set of shared norms and laws.

Social Responsibility

Refers to the obligation of individuals and organizations to act in ways that benefit society at large, beyond their own interests or profiteering.

Recruiting Tool

Instruments or platforms used to attract and identify potential job candidates.