The Phenomenon Where Production of More Units Results in Higher

question 100

Multiple Choice

The phenomenon where production of more units results in higher average cost per item is known as

• A)economies of scale.
• B)diseconomies of scale.
• C)best operating level.
• D)disefficiency.

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Definitions:

Social Program

Initiatives created by governments aimed at providing support to citizens in areas such as healthcare, education, and income security.

Total Cost

The aggregate financial cost of all operating expenses and direct costs associated with the production of goods or services.

Total Benefit

The complete gain or satisfaction obtained from consuming a product or engaging in an activity, quantified by willingness to pay or perceived utility.

Construction Project

A comprehensive undertaking to build, erect, or assemble infrastructure or buildings, involving planning, design, and management.