If Economies of Scale Exist for a Particular Production Relationship

question 218

Multiple Choice

If economies of scale exist for a particular production relationship, long-run average costs will

• A)rise.
• B)fall.
• C)first rise and then fall.
• D)be unaffected since there is no direct relationship between the two.

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Definitions:

Natural Selection

The process by which organisms better adapted to their environment tend to survive and produce more offspring, driving evolutionary change.

Organisms

Organisms are individual living entities that can react to stimuli, reproduce, grow, and maintain homeostasis.

Environment

A rephrased definition: The composite of physical, biological, and chemical factors that constitute the surrounding of a particular organism or group of organisms.

Inherited Traits

Characteristics or attributes genetically passed from parents to offspring through their genes.