As We Get Older, Our Chances of Contracting Goes Down

question 123

Multiple Choice

As we get older, our chances of contracting goes down, while our chances of contracting goes up.

• A) acute diseases; chronic diseases
• B) chronic diseases; acute diseases
• C) acute diseases; influenza
• D) cancer; chronic diseases

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Definitions:

Diseconomies of Scale

The phenomenon where, as a firm expands, its costs start increasing per unit of output, usually due to inefficiencies and management challenges that arise with size.

Diminishing Returns

A principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase and may decrease.

Natural Monopoly

A market structure where a single provider is more efficient in supplying the entire market with a product or service, due to high fixed or startup costs.