A Very- Long- Run Consideration That Could Change a Firm's

question 29

Multiple Choice

A very- long- run consideration that could change a firm's production function is

• A) size of the plant.
• B) an improvement in education that increases the quality of the economy's labour force.
• C) increasing returns to scale of operation.
• D) diminishing returns.
• E) rising cost of the factors of production.

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Definitions:

SWOT Analysis

A tool for strategic planning that helps in recognizing and comprehending the Strengths, Weaknesses, Opportunities, and Threats associated with business rivalry or the planning of a project.

Brand Managers

Brand managers are professionals responsible for the development, implementation, and management of marketing strategies and campaigns to build and maintain a brand's image, relevance, and consumer perception.

Growth

The process of increasing in size, number, value, or strength.

Expertise

Deep knowledge or skill in a particular area or field, gained through experience or education.