Table 13-17 Consider the Following Table of Long-Run Total Cost for Four

question 42

Multiple Choice

Table 13-17
Consider the following table of long-run total cost for four different firms:
-Refer to Table 13-17. Which firm has diseconomies of scale over the entire range of output?

• A)Firm 1 only
• B)Firm 2 only
• C)Firms 1 and 2 only
• D)Firm 3 only

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Definitions:

Contributory Negligence

A legal defense where the plaintiff's own negligence played a role in causing their damages or injury, potentially reducing the liability of the defendant.

Exercise Reasonable Care

The requirement to act with the degree of caution and concern for the safety of oneself and others that a reasonably prudent person would under the same circumstances.

No-fault Personal Liability

A legal principle where individuals receive compensation for injuries regardless of who is at fault.

Accident-prone Drivers

Individuals who have a higher likelihood of being involved in vehicular accidents due to behavior or other factors.