_____ Is/are an Example of an Industrial Cluster

question 27

Multiple Choice

_____ is/are an example of an industrial cluster.

• A) The International Trade Union Confederation
• B) The International Workers Association
• C) The International Transport Workers' Federation
• D) Silicon Valley software makers
• E) The International Affiliation of Writers Guilds

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Definitions:

Short-Run

A period during which at least one of a firm's inputs is fixed, limiting its ability to adjust to demand changes.

AVC

Average Variable Cost, which is the total variable costs of production divided by the quantity of output.

Short Run

A period in which at least one of a firm's inputs is fixed and cannot be varied.

Variable Costs

Expenses that directly fluctuate in accordance with the amount of production or output.