Economies of Scale in the Production of a Good Implies

question 10

Multiple Choice

Economies of scale in the production of a good implies that:

• A)the long-run average cost of production rises as the scale of operation expands.
• B)the marginal cost of production falls below zero as the scale of operation contracts.
• C)the long-run average cost of production falls as the scale of operation expands.
• D)the long-run average cost of production remains the same as the scale of operation increases.
• E)the marginal output decreases as the amount of a factor of production is incrementally increased.

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Definitions:

Intramembranous Ossification

Intramembranous ossification is a process of bone development in which bone tissue is directly formed from mesenchymal tissue without first being cartilage.

Endochondral Ossification

A biological process by which bone tissue is formed from cartilage, notably in the formation and growth of long bones.

Foramen

A natural opening or passage, especially in a bone, allowing for the passage of nerves or vessels.

Openings

Natural or surgically created gaps or spaces in the body that allow access to internal structures or facilitate the passage of fluids.