When a Firm Is Experiencing Economies of Scale, Long-Run

question 258

Multiple Choice

When a firm is experiencing economies of scale, long-run

• A)average total cost is minimized.
• B)average total cost is greater than long-run marginal cost.
• C)average total cost is less than long-run marginal cost.
• D)marginal cost is minimized.

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Definitions:

Control Coil

An electromagnetic coil used within certain systems to control the operation or movement of a component, often found in relays and solenoids.

SAE Relay

A type of electrical relay that meets the standards set by the Society of Automotive Engineers, used in automotive applications.

Closed Status

Refers to a condition or state of a system, process, or item that is not open for changes, operations, or transactions.

Current Draw

The amount of electrical current a device consumes while it is operating.