Which of the Following Is Likely to Have the Shortest

question 33

Multiple Choice

Which of the following is likely to have the shortest long run?

• A)a nail salon
• B)a construction firm
• C)an electric company
• D)a container ship operations company

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Definitions:

Consumption

The use of goods and services by households, leading to a decrease in their quantity or quality.

Utility Function

An economic model that represents how different combinations of products or services can generate various levels of happiness or utility to a person, guiding choices.

Consumption

Consumption represents the use of goods and services by households, which is a primary component in calculating a nation's gross domestic product.

Lottery

A form of gambling that involves the drawing of numbers at random for a prize, often conducted by states or organizations.