External Economies Are Factors Beyond the Control of an Individual

question 4

Multiple Choice

External economies are factors beyond the control of an individual firm that _______ as the total market output increases.

• A) lower its profit
• B) raise its costs
• C) lower its costs
• D) raise its marginal revenue

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Definitions:

Genetic Causes

Refers to health conditions or physical traits that are influenced or determined by an individual's genes.

Color Deficiencies

Impaired ability to see colors and differentiate between certain shades, commonly known as color blindness.

Red-Green Color Blindness

A common form of color blindness where individuals have difficulty distinguishing between red and green hues.

Color Vision

The ability of an organism to distinguish different colors in the spectrum, based on the operations of its eye and neural mechanisms.