Long-Run Economies of Scale Exist When the Long-Run Average Cost

question 102

Multiple Choice

Long-run economies of scale exist when the long-run average cost curve

• A) rises.
• B) remains constant.
• C) falls.
• D) does not exist.

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Definitions:

Standardization

The process of implementing and developing technical standards to ensure consistency, efficiency, and quality across processes, products, or systems.

Organizational Strategies

Comprehensive plans that outline how a business or organization will achieve its goals and respond to challenges in its internal and external environment.

Environmental Uncertainty

The amount and rate of change in the organization’s environment.

Organizational Design

The process of constructing and adjusting an organization’s structure to achieve its business strategy and goals.