Which of the Following Best Illustrates the Cost Curves of a Firm

question 16

Multiple Choice

Which of the following best illustrates the cost curves of a firm that is experiencing economies of scale?

• A) The short-run marginal cost is falling as output expands.
• B) The long-run marginal cost is falling as output expands.
• C) The long-run average total cost is falling as output expands.
• D) The short-run average total cost is falling as output expands.

---

Definitions:

Problem-Solution Approach

A sales strategy that focuses on identifying a potential customer's problem and proposing a product or service as a solution to that problem.

Memorized Approach

A sales technique wherein a seller uses a scripted message to pitch their product or service, often rehearsed to ensure consistency and effectiveness.

Time Limited

A situation or offer that is available only for a specified period before expiring or changing.

Need-Satisfaction Presentation

A sales technique focusing on identifying and addressing the specific needs or problems of a customer to suggest a tailored solution.