When an Increase in the Firm's Output Reduces Its Long-Run

question 161

Multiple Choice

When an increase in the firm's output reduces its long-run average cost, it experiences:

• A) economies of scale.
• B) diseconomies of scale.
• C) constant returns to scale.
• D) variable returns to scale.

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Definitions:

Conditional Operator

A ternary operator that provides a shorthand way to write if-else statements, evaluating a condition and returning one of two values.

Conditional Expression

A conditional expression, often using the ternary operator ?:, evaluates to one of two values depending on the truth value of a specified condition.

Ternary Operator

The ternary operator in programming is a conditional operator that simplifies the if-else statement into a single line of code, typically used in the format condition ? expression1 : expression2.