When an Increase in the Firm's Output Reduces Its Long-Run

question 217

Multiple Choice

When an increase in the firm's output reduces its long-run average total cost, it achieves:

• A)economies of scale.
• B)diseconomies of scale.
• C)constant returns to scale.
• D)variable returns to scale.

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Definitions:

Job Performance

The measure of how effectively an employee carries out their roles and responsibilities at work.

Personnel Selection Process

The procedure of identifying and hiring the best-qualified candidates from a pool of applicants for a job, based on criteria and methods such as interviews and tests.

Reference Checks

The process of contacting previous employers, colleagues, or other references to verify a job candidate's qualifications, character, and performance.

Background Checks

The process of verifying the personal, financial, or criminal records of an individual or entity.