Which of the Following Is an Accurate Measure of Physical

question 75

Multiple Choice

Which of the following is an accurate measure of physical development?

• A)the age of bones
• B)height
• C)the size of the head
• D)the number of teeth

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Definitions:

Diseconomies of Scale

The phenomenon where production costs increase as a firm or industry grows, leading to reduced efficiency and higher per-unit costs.

Law of Diminishing Returns

The principle that adding more of one factor of production, while keeping others constant, will eventually yield lower per-unit returns.

Economic Profit

The surplus remaining after deducting both explicit and implicit costs from total revenues, emphasizing a firm's financial performance beyond just its accounting profit.

Accounting Profit

Accounting profit is the monetary gain calculated by subtracting total explicit costs from total revenue.