At a Particular Output Level, If a Firm's Long- Run

question 72

Multiple Choice

At a particular output level, if a firm's long- run marginal cost is $7 and its long- run average cost is $4, the firm is likely to be experiencing_______ .

• A)economies of scale
• B)constant returns to scale
• C)diseconomies of scale
• D)sunk costs

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Definitions:

Intrusive

Unwanted or disturbing thoughts, images, or urges that enter the mind, often causing distress or discomfort.

Clarification

A technique used in counseling and communication to make sure that the speaker's message is understood correctly by asking for more information or for the message to be repeated in a clearer manner.

Paraphrase

The rewording or rephrasing of a text or passage to achieve clearer understanding.

Reflection

The process of thoughtfully considering one's actions, feelings, or experiences, often used in learning or therapeutic contexts.