The Best Explanation for the Shape of a Short Run

question 262

Multiple Choice

The best explanation for the shape of a short run marginal cost schedule is

• A) increasing returns to scale.
• B) decreasing returns to scale.
• C) there is no fixed factor of production.
• D) a fixed factor causes diminishing returns to other factors.

---

Definitions:

Turns Ratio

The ratio of the number of turns in the primary winding to the number of turns in the secondary winding of a transformer.

Primary Line Current

The electric current flowing through the primary winding or circuit of a transformer or other electrical device.

Wye-Connected

A configuration where three elements (like resistors, inductors, or capacitors) in a circuit are connected at a single common point or node, forming a Y shape.

Secondary Line Voltage

The voltage seen across the secondary winding of a transformer or at the output of a power supply, typically lower than the primary voltage.