When There Are Economies of Scale in Production, What Can

question 1

Multiple Choice

When there are economies of scale in production, what can we conclude?

• A) Marginal cost increases as output expands.
• B) Marginal product of an input diminishes with increased utilization.
• C) Long-run average total cost declines as output expands.
• D) Long-run average total cost increases as output expands.

---

Definitions:

Cognition, Behavior, and Performance

Related aspects of psychological processes, actions based on these processes, and their outcomes in various environments.

Socialization Process

The method by which individuals learn and adopt the values, norms, and behaviors required to function within a society or specific group.

Orientation

Orientation involves the introduction and acclimatization of new members to an organization, system, or set of beliefs, helping them understand their role and the organization's culture.

First Step

The initial action taken towards a particular goal or process.