The LRMC Curves Will Have a Downward Sloping Portion If

question 91

Multiple Choice

The LRMC curves will have a downward sloping portion if:

• A)organizational difficulties increase as the firm expands.
• B)increasing returns to scale occur at low levels of output.
• C)the good in question is being produced in a decreasing- cost.
• D)diminishing returns occur after some output is produced.

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Definitions:

Discrimination

The inappropriate and unjustified treatment of people based on the groups they belong to.

Prejudice

Preconceived opinions or judgments about people or groups, often negative and not based on actual experience or facts.

Stereotype

A widely held but oversimplified belief or generalization about a particular group or type of person.

Mental Shortcut

Cognitive strategies or heuristics that simplify decision making by reducing complex problem-solving to simpler rules of thumb.