Economies of Scale

question 238

Multiple Choice

Economies of scale

• A)require inputs' MPP to fall as output increases (everything else equal).
• B)pertain to the long run only.
• C)refer to increased output generalized by an increase in the quantity of a single input.
• D)imply that the AC curve will fall continuously as output increases in the short run.

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Definitions:

Subjectiveness

The quality of being based on or influenced by personal feelings, tastes, or opinions rather than external facts.

Ethics

A branch of philosophy dealing with the principles of morality, defining what is good for individuals and society, and distinguishing right from wrong.

Opportunistic Theft

A crime motivated by the chance to steal without premeditation, due to the immediate availability of unguarded property.

Kickbacks

Payments made in return for a favor or service, often illicitly and in breach of trust.