The Figure Below Shows a Family of Cost Curves for a Firm.The

question 57

Multiple Choice

The figure below shows a family of cost curves for a firm.The subscripts 1,2,and 3 for the SRATC curves refer to different plant sizes.
FIGURE 8- 3
-Refer to Figure 8- 3.Suppose this firm is producing output level Q3 with plant size 2.Now suppose this firm changes to plant size 3 and is producing output level Q5.We can say that

• A)this firm has experienced economies of scale.
• B)the firm is then operating with the optimal plant size.
• C)output has increased less than in proportion to the increase in inputs.
• D)output has increased more than in proportion to the increase in inputs.
• E)output has increased exactly in proportion to the increase in inputs.

Comprehend the specific powers granted to different branches and levels of government in the U.S. Constitution.

Analyze significant Supreme Court cases and their impact on federalism and states' rights.

Understand the concept of concurrent powers and how they facilitate the sharing of authority between state and national governments.

Recognize the importance of clauses in the U.S. Constitution that govern the relationships between states.

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Definitions:

Formalities

Specific procedures or requirements mandated by law or custom that must be observed to validate a legal document, agreement, or transaction.

Fraud

The wrongful or criminal deception intended to result in financial or personal gain.

Per Stirpes

A method of distributing an intestate’s estate so that each heir in a certain class (such as grandchildren) takes the share to which her or his deceased ancestor (such as a mother or father) would have been entitled.

Distribute

To allocate or spread out resources or goods across different recipients or areas.