A Very-Long-Run Consideration That Could Change a Firm's Production Function

question 26

Multiple Choice

A very-long-run consideration that could change a firm's production function is

• A)rising cost of the factors of production.
• B)increasing returns to scale of operation.
• C)an improvement in education that increases the quality of the economy's labour force.
• D)diminishing returns.
• E)size of the plant.

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Definitions:

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Portable electronic devices used for mobile communication, including voice calls, text messaging, and internet access.

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The process of creating detailed and vivid descriptions of hypothetical situations to explore potential outcomes or decisions.

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