Which of the Following Statements Describes the Law of Increasing

question 153

Multiple Choice

Which of the following statements describes the law of increasing costs?

• A)As the quantity produced of any particular item decreases,its per unit cost of production rises.
• B)As the quantity produced of any particular item increases,its per unit cost of production rises.
• C)The prices of consumer goods and services always rise and never fall.
• D)If you wait to make a purchase,you will pay a higher price.
• E)The total cost of production rises as output goes up.

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Definitions:

Customer Perspective

An approach or strategy in business that focuses on understanding and meeting the current and future needs of customers.

Strategy Map

A visual tool that illustrates a company’s strategic goals and the means to achieve them, highlighting cause-and-effect relationships.

Supply Chain Map

A graphical representation that details the steps involved in moving a product from supplier to customer, including all intermediary phases such as procurement, manufacturing, and distribution.

Internal Processes Perspective

A component of the Balanced Scorecard that emphasizes improving internal operations and processes to meet business goals and customer expectations.