A Downward- Sloping LRAC Curve Will Shift Downward Because of

question 47

Multiple Choice

A downward- sloping LRAC curve will shift downward because of

• A)the use of large,specialized machinery as the volume of output increases.
• B)specialization.
• C)a decrease in factor prices.
• D)economies of scale.
• E)factor substitution.

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Definitions:

Preconventional

A stage in Kohlberg's theory of moral development where moral reasoning is based on external consequences and individual needs.

Postconventional

A stage of moral development in which the individual's sense of morality is defined in terms of more abstract principles and values rather than conventional rules or authority figures.

Preliminary

Describes something that comes before the main event, subject, or activity, often serving as an initial or preparatory stage.

Sensitivity

The ability to detect or respond to slight changes, variations, or stimuli.