Suppose That When a Firm Increases Output by 50%,long-Run Total

question 13

Multiple Choice

Suppose that when a firm increases output by 50%,long-run total cost increases by less than 50%.The firm will experience

• A)diminishing marginal returns.
• B)decreasing marginal rate of technical substitution.
• C)economies of scale
• D)diseconomies of scale

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Definitions:

Control Theory

suggests that social and personal relationships and commitments help individuals resist engaging in deviant or criminal behavior.

Deviance

refers to actions or behaviors that violate social norms, values, or laws, which can vary across different cultures and settings.

Positivists

Advocates of positivism, a philosophical theory that emphasizes the importance of empirical evidence and scientific methods for knowledge.

Deviance

Behaviors or actions that violate social norms, values, or ethics within a given society.