Lt Charles Just Joined the Air Force

question 58

Multiple Choice

Lt. Charles just joined the air force. She notices that the people she works with seem to have a way of speaking that is different than other groups she has observed. They use certain words that they all seem to understand. They are tight knit. She starts to use such language in an attempt to become closer to the group. What best explains her actions?

• A) Powerless language
• B) Powerful language
• C) Convergence
• D) Divergence

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Definitions:

Minimum Efficient Scale

The smallest amount of production a company can achieve while still taking full advantage of economies of scale with regards to minimizing its costs.

Long-Run ATC

The average total cost of production when all inputs, including capital, are variable and the scale of production can change.

Diseconomies of Scale

The phenomenon where operational costs per unit increase as the output increases, often due to inefficiencies or management challenges.

Natural Monopoly

A market structure where a single supplier is most efficient in producing or providing goods or services due to high fixed or startup costs, making competition less viable.