The Early Humanists, Sometimes Called the Fathers of Humanism, Were

question 65

Multiple Choice

The early humanists, sometimes called the fathers of humanism, were

• A)Raphael and Giotto.
• B)Polybius and Cicero.
• C)Pico and Valla.
• D)Petrarch and Boccaccio.
• E)Pico della Mirandola and Baldasar Castiglione.

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Definitions:

Economies of Scale

Enterprises see cost efficiencies due to their operating scale, with the cost for every unit of output generally declining as the scale enlarges.

Economies of Scale

Describes the cost benefits that companies achieve through their operation size, where the cost for each unit produced typically falls as the scale of operation grows.

Constant Marginal Cost

A situation in which the cost of producing one additional unit of a product remains the same, regardless of the volume produced.

Average Fixed Cost

The cost that a company incurs for fixed resources divided by the quantity of output produced.