Which of the Following Statements Is Not Correct

question 57

Multiple Choice

Which of the following statements is not correct?

• A)In the long run, there are no fixed costs.
• B)Marginal cost is independent of fixed costs.
• C)Economies of scale is a short-run concept.
• D)Diminishing marginal product explains increasing marginal cost.

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Definitions:

Sodium

A chemical element with symbol Na and atomic number 11, essential for human health but consumed in excess can lead to health issues.

Diets

Regulated eating plans designed for weight loss, medical reasons, or to achieve or maintain a specific health goal.

Strategic Planning

The process of thoughtfully defining a firm’s objectives and developing a method for achieving those objectives.

Objectives

Specific, measurable goals that are set to be achieved within a time frame, serving as guiding principles for initiatives or projects.