When the Average Cost of a Typical Firm Declines as the Output

question 18

Multiple Choice

When the average cost of a typical firm declines as the output of the industry within a geographic area increases it is referred to as:

• A)internal scale economies.
• B)external scale economies.
• C)internal scale diseconomies.
• D)constant returns to scale.

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Definitions:

Neurotransmitters

Substances that carry messages from one nerve cell to another through the synapse in the nervous system.

Axon Terminals

The distal terminations of the branches of an axon, making connections with other neurons or muscle cells and facilitating neural transmission.

Myelin Sheath

A fatty, white substance that encases and insulates neurons, permitting more rapid transmission of neural impulses.

High Fat Content

High fat content refers to foods or substances that have a large proportion of fats, which can impact health and nutrition.