Economies of Scale Occur When the Percentage Increase in Output

question 326

Multiple Choice

Economies of scale occur when the percentage increase in output

• A) exceeds the percentage increase in all inputs.
• B) is less than the percentage increase in all inputs.
• C) exceeds the percentage decrease in all inputs.
• D) is less than the percentage decrease in all inputs.

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Definitions:

Nullification Crisis

A confrontation between the state of South Carolina and the federal government in 1832-33 over the state's attempt to nullify federal tariffs.

Daniel Webster

An influential American statesman and senator in the early 19th century, known for his advocacy for the Constitution and the Union.

John C. Calhoun

An American statesman and political theorist from South Carolina, known for his strong defense of slavery and advocating for the rights of states.

Constitution

A collection of key principles or prevailing standards that guide the governance of a state or any other institution.