_____ Exist When the Average Unit Costs of a Good

question 29

Multiple Choice

_____ exist when the average unit costs of a good or service decline as the quantity produced increases.

• A) Economics of agglomeration
• B) Economies of scope
• C) Economies of scale
• D) Returns to scale

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Definitions:

Optimistic

Having a positive outlook or expectation about the future, believing that good things will happen.

Explanatory Style

A psychological attribute that indicates how people explain to themselves why they experience a particular event, either positive or negative.

Learned Helplessness

A situation where someone feels unable to control their life, due to trauma or repeated failures.

Optimists

Individuals who tend to maintain a positive outlook on life and expect favorable outcomes, even in difficult situations.