In the Long Run, Firms in Many Industries Often Experience

question 79

Multiple Choice

In the long run, firms in many industries often experience falling average total costs as a result of

• A) gains through trade.
• B) increasing marginal returns.
• C) economies of scale.
• D) lower fixed costs.

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Definitions:

Preauthorized Payments

Financial transactions that are scheduled to recur at predetermined intervals, where funds are automatically transferred from an individual's bank account or credit card to pay for services or goods.

EFTs

Electronic Funds Transfers, which refer to the digital transfer of money between accounts, often across banking institutions, without the need for physical exchange of cash.

Bank's Obligation

The legal and ethical duties a bank owes to its customers, including confidentiality, fair treatment, and the proper handling of transactions.

Negotiability Requirements

The specific conditions or criteria that must be met for an instrument to be considered negotiable, allowing it to be transferred freely.