If a Firm's Long-Run Average Cost Curve Is Rising, It

question 117

Multiple Choice

If a firm's long-run average cost curve is rising, it is experiencing:

• A) a constant return to scale.
• B) economies of scale.
• C) diseconomies of scale.
• D) none of these.

---

Definitions:

Normal Distribution

It is a probability distribution that features a symmetric alignment around the mean, emphasizing that data around the mean occur more than data at a distance.

Degrees of Freedom

The count of separate values or amounts that are capable of changing in an analysis while still respecting all limitations.

T-test

A statistical method employed to ascertain whether there's a notable disparity between the averages of two sets.

Interval Data

A type of numerical data that has meaningful intervals between values but no true zero, allowing for the measurement of differences.