Assume That You Observe the Long-Run Average Cost Curve of ACME

question 82

Multiple Choice

Assume that you observe the long-run average cost curve of ACME Bookstores, a national chain.Starting from the point on the curve where output is zero and moving to the right, which of the following lists the behavior of long-run average costs in the correct sequence (that is, which will be observed first, second, etc.) ?

• A)minimum efficient scale; economies of scale; constant returns to scale; diseconomies of scale
• B)economies of scale; constant returns to scale; diseconomies of scale; minimum efficient scale
• C)constant returns to scale; economies of scale; minimum efficient scale; diseconomies of scale
• D)economies of scale; minimum efficient scale; constant returns to scale; diseconomies of scale

---

Definitions:

Self-esteem

An individual's overall subjective emotional evaluation of their own worth or value.

Big Five

A model that categorizes human personality traits into five broad dimensions: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Extraversion

A quality in someone's character that involves being sociable, loquacious, forthright, and having a notable capacity for showing emotions vividly.

Agreeableness

A personality trait characterized by qualities such as kindness, cooperation, warmth, and consideration of others.