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.

---

Definitions:

Innovation

The process of introducing new ideas, devices, or methods to enhance processes, goods, or services.

Status Quo Managers

Leaders who prefer maintaining existing conditions or the current state of affairs within an organization, often resistant to change.

High Involvement Management

A management approach that emphasizes employee participation in decision-making and the day-to-day operations of the organization.

Organizational Culture

The shared beliefs, values, norms, and practices that guide the behavior of individuals within an organization.