-When Long-Run Average Cost Remains Constant as Output Increases There

question 301

Multiple Choice

-When long-run average cost remains constant as output increases there are constant

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

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Definitions:

Exponential Distribution

A probability distribution used to model the time between events in a Poisson process, describing the times between events in a continuous but rare occurrence.

Poisson Probability

The probability of a given number of events happening in a fixed interval of time or space if these events occur with a known constant mean rate and independently of the time since the last event.

Successive Arrivals

The sequence in which entities arrive one after another, often analyzed in queue theory and time-series analysis.

Continuous Random Variables

Variables that can take an infinite number of values within a given range.