Economies of Scale Refer to

question 15

Multiple Choice

Economies of scale refer to

• A)the minimum point on the short-run average total cost curve.
• B)the flat portion of the long-run average total cost curve.
• C)a decrease in the long-run average total cost of production as output increases.
• D)the maximum point on the short-run average total cost curve.

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Definitions:

Empirical Formula

The simplest ratio of the elements in a compound that gives the relative number of atoms of each element.

Molecular Formula

A notation that shows the number and type of atoms in a molecule, without indicating how they are connected.

Elemental Analysis

A method of measuring the relative amounts of each element within a chemical sample.

Empirical Formula

The simplest positive integer ratio of atoms present in a compound, not providing structural information but indicating the proportion of elements.