The Concepts of Reversibility and Conservation Develop During the __________

question 195

Multiple Choice

The concepts of reversibility and conservation develop during the __________ stage.

• A)preoperational
• B)sensorimotor
• C)concrete operational
• D)formal operational

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Definitions:

Economies of Scope

Cost advantages that arise from a firm or company expanding its product line or markets, exploiting shared resources or technologies.

Economies of Scale

Cost advantages reaped by companies when production becomes efficient, leading to a decrease in the cost per unit as output increases.

Outputs

The goods or services produced by a business or an economy.

Long-run Average Cost

The per unit cost of production when all inputs, including those typically fixed, can be adjusted.