When Long-Run Average Costs Increase as a Result of Industry

question 149

Multiple Choice

When long-run average costs increase as a result of industry growth, there are

• A) internal economies.
• B) internal diseconomies.
• C) external economies.
• D) external diseconomies.

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Definitions:

Acupuncture

A form of traditional Chinese medicine involving the insertion of thin needles into specific points on the body to relieve pain or treat various conditions.

Qi Gong

An ancient Chinese exercise and healing technique involving meditation, controlled breathing, and movement exercises.

Tai Chi

A Chinese martial art and form of gentle physical exercise consisting of slow, deliberate movements combined with deep breathing and meditation.

Arthritis

A general term for conditions that affect the joints and surrounding tissues, causing pain, swelling, and stiffness.