A Reduction in Costs Per Unit Due to Increases in Efficiency

question 3

Multiple Choice

A reduction in costs per unit due to increases in efficiency of production as the number of goods being produced increases best defines the term _____.

• A)economies of scope
• B)economies of finance
• C)economies of scale
• D)economies of wealth

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Definitions:

Diffusion

In experimental design, the problem of a treatment effect spreading from group to group as people communicate.

Treatment Effect

The difference in outcomes between a group receiving an intervention and a control group in an experimental study.

Factorial Designs

Experimental designs that manipulate two or more variables at a time.

Bivariate Designs

Research designs that involve the investigation of two variables to determine their relationship or correlation with each other.