Suppose That a Firm's Long-Run Average Total Costs of Producing

question 613

Multiple Choice

Suppose that a firm's long-run average total costs of producing small commuter jet airplanes increases as it produces between 2,000 and 4,000 airplanes. For this range of output, the firm is experiencing

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

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Definitions:

Exosystem

A term from ecological systems theory referring to societal structures that do not directly contain the individual but still influence their experiences and development, such as parental workplaces.

Microsystem

The immediate environment a person operates in, including direct interactions with family, school, work, which influence one's development and behavior.

Multiple Choice Questions

A form of assessment where respondents are asked to select the correct answer(s) from several given options.

Large Samples

Research groups or datasets that are sufficiently large to provide statistically meaningful results.