If in Some Production Range Average Cost Is Rising, the Firm

question 214

Multiple Choice

If in some production range average cost is rising, the firm is experiencing

• A)increasing returns to scale.
• B)decreasing returns to scale.
• C)constant returns to scale.
• D)increasing costs per unit of output.

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Definitions:

Extinguished

In psychology, extinguished refers to the process by which a previously learned behavior diminishes or disappears as a result of non-reinforcement.

Genetic Predisposition

The increased likelihood of developing certain traits or diseases based on one's genetic makeup.

Phobias

Intense, irrational fears of specific objects or situations that pose little to no actual danger.

Hippocampus

A major component of the brains of humans and other vertebrates, playing critical roles in the consolidation of information from short-term memory to long-term memory and spatial navigation.