One Production Facility Will Usually Be Favored When

question 53

Multiple Choice

One production facility will usually be favored when

• A) fixed costs are low.
• B) demand is higher than the minimum efficient scale.
• C) goods have a low value-to-weight ratio.
• D) unemployment is very low.
• E) a company is extremely profitable.

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Definitions:

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Stanford-Binet Test

A standardized test that assesses intelligence and cognitive abilities in children and adults, based on the work of Alfred Binet and later revised at Stanford University.

Binet-Simon Intelligence Scale

An early psychological test designed to assess intelligence, developed by Alfred Binet and Théodore Simon.