Economies of Scale Account for What Part of a Long-Run

question 72

Multiple Choice

Economies of scale account for what part of a long-run average total cost curve?

• A) Downward-sloping
• B) Horizontal
• C) Upward-sloping
• D) Vertical

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Definitions:

Federal Reserve Board

The governing body of the Federal Reserve System, responsible for overseeing American monetary policy and financial system regulation.

Bank Failures

Occurrences when a bank is unable to meet its obligations to depositors or creditors and ceases operations, often resulting in regulators seizing the institution.

Great Depression

A severe worldwide economic downturn that took place during the 1930s, marked by massive unemployment and widespread poverty.

Lost Confidence

A situation where consumers or investors become pessimistic about the economic prospects, leading to reduced spending and investment.