If a Firm That Uses a Production Process That Yields

question 31

Multiple Choice

If a firm that uses a production process that yields economies of scale charges a price less than ,then profit will be .

• A)marginal revenue; positive
• B)marginal revenue; maximized
• C)average cost; negative
• D)marginal cost; positive
• E)marginal cost; maximized

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Definitions:

Moral Development

The process through which individuals learn and apply concepts of right and wrong behavior, guided by cultural, social, and ethical norms.

Ethical Issue

A situation or problem that requires individuals or organizations to choose between alternatives that must be evaluated as right or wrong (ethical or unethical).

Cheating

The act of being dishonest, breaking rules, or using deceptive means to gain an unfair advantage, typically within an academic or competitive setting.

Situational

Relating to or dependent upon a specific set of circumstances or context.