On the Upward Sloping Portion of a Firm's Long-Run Average

question 316

Multiple Choice

On the upward sloping portion of a firm's long-run average cost curve, it is experiencing

• A) economies of scale.
• B) constant returns to scale.
• C) diseconomies of scale.
• D) diminishing marginal returns.

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Definitions:

Speaking Model

A framework or conceptual model that outlines the key components and processes involved in effective oral communication.

Key

In Hymes’s ethnography of communication, the tone of speech or how the speech sounds—for example, formal or friendly.

Structural

Pertaining to the configuration or physical makeup of something, often reference to its construction or organization.

Focus Group Discussions

A qualitative research method involving guided discussions with a small group of people to explore their perceptions, opinions, beliefs, and attitudes towards a particular topic.