The Long-Run Market Supply Curve in the Presence of Internal

question 28

Multiple Choice

The long-run market supply curve in the presence of internal economies of scale is ________,and in the presence of external economies of scale,it is ________.

• A) downward sloping; downward sloping
• B) upward sloping; horizontal
• C) horizontal; upward sloping
• D) downward sloping; horizontal
• E) upward sloping; downward sloping

---

Definitions:

Causal Relationship

A connection between two events where one is understood to be directly responsible for causing the other.

IRB

IRB (Institutional Review Board) is a committee established to review and approve research involving human subjects, ensuring that the research is ethical and the rights and welfare of participants are protected.

Binomial Effect Size Display

A method for displaying and understanding more clearly the magnitude of an effect reported as a correlation, by translating the value of r into a 2 × 2 table comparing predicted with obtained results.

Correlation Coefficients

Statistical measures that indicate the strength and direction of a relationship between two variables.