Economies of Scale Refer to

question 214

Multiple Choice

Economies of scale refer to

• A) the point at which marginal cost equals average cost.
• B) the fact that in the long run, fixed costs remain constant as output increases.
• C) the range of output over which the long-run average cost falls as output increases.
• D) a feature of short-run production functions but not long-run production functions.

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Definitions:

Polar Covalent

A type of chemical bond where electrons are unevenly distributed, resulting in a partial positive and negative charge on different atoms.

Nonpolar Covalent

A type of chemical bond where two atoms share a pair of electrons equally, resulting in no charge separation.

Lewis Structure

A graphical representation of the valence shell electrons in molecules or ions, showing how electrons are shared between atoms to form bonds.

Condensed Formula

A representation of a chemical substance that shows the elements present and their proportions but without the structural details.