Which of the Following Statements Is Not Correct

question 321

Multiple Choice

Which of the following statements is not correct?

• A)The real cost of producing X is the quantity of products, R, S, or T etc., which could have been produced with the resources devoted to X.
• B)Diseconomies of scale arise primarily from the difficulties in managing and coordinating a large-scale business enterprise.
• C)The law of diminishing returns explains the fact that the long-run average total cost curve is U-shaped.
• D)Average fixed costs diminish so long as output increases.

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Definitions:

Inferential Statistics

A branch of statistics that makes predictions or inferences about a population based on a sample of data.

Statistical Analysis

The collection, examination, interpretation, presentation, and organization of data using statistical methods and techniques.

Tolerance Ranges

The acceptable or permissible limits within which a product, process, or result can vary without affecting its quality or functionality.

Quality of Product

The degree to which a product meets the specified criteria and satisfies the customer's expectations.