Figure 13-9 the Figure Below Depicts Average Total Cost Functions for a for a Firm

question 124

Multiple Choice

Figure 13-9
The figure below depicts average total cost functions for a firm that produces automobiles.
-Refer to Figure 13-9. At levels of output between M and N, the firm experiences

• A)economies of scale.
• B)diseconomies of scale.
• C)constant returns to scale.
• D)both the benefits of specialization and diminishing marginal productivity.

---

Definitions:

Accumulated Count

A value that represents the total number of events or quantities that have been counted over a period of time.

Timer Program

A function within PLC programming used to count time intervals for the controlled process.

Switch S1

A designation for a specific switch in an electrical or electronic circuit, often used in diagrams and documentation.

Light

A type of electromagnetic radiation within a certain portion of the electromagnetic spectrum, perceived by the human eye and responsible for the sense of sight.