The Long-Run Total Cost Schedule of a Perfectly Competitive Firm

question 127

Multiple Choice

The long-run total cost schedule of a perfectly competitive firm that produces blueberries is as follows:
TABLE 8-2

-Refer to Table 8-2. What is a firm that expands from producing 1000 to 2000 kilograms of blueberries in the long run experiencing?

• A) an increasing average fixed cost
• B) economies of scale
• C) diseconomies of scale
• D) constant returns to scale

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Definitions:

Healthy-Looking Mates

indicates individuals who appear physically fit and attractive, often seen as more desirable for reproduction based on perceived genetic advantages.

Genes

Units of heredity made up of DNA that encode for the synthesis of proteins, influencing various traits and characteristics of an organism.

DNA

DNA, a molecule responsible for carrying the genetic blueprints essential for the growth, development, functioning, and reproduction of every known living being.

Chromosomes

Structures within cells that contain DNA and carry genetic information, with humans typically having 23 pairs.