The Upward-Sloping Portion of the Long-Run Average Total Cost Curve

question 39

Multiple Choice

The upward-sloping portion of the long-run average total cost curve is caused by:

• A) indivisible setup costs.
• B) diseconomies of scale.
• C) the absence of fixed inputs.
• D) the presence of fixed inputs.

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Definitions:

Sensory Memory

The shortest-term element of memory that acts as a buffer for stimuli received through the senses.

Atkinson and Shiffrin

Psychologists who proposed a model of memory in the 1960s, known as the multi-store or modal model, which includes the sensory register, short-term memory, and long-term memory.

Memory Storage

Memory Storage is the process of retaining information in the brain over time through the encoding, storage, and retrieval of experiences and learned information.

Conscious Experience

The subjective awareness of one's thoughts, feelings, and surroundings.