Your Friend Is Ordering Pizza and Wants to Know Which

question 114

Multiple Choice

Your friend is ordering pizza and wants to know which toppings you want.You say "pepperoni,sausage,green peppers,olives,mushrooms,onions,tomatoes,and pineapple." Your friend doesn't write this down but then dials the pizza place and places the order.Which topping is your friend most likely to forget?

• A) pepperoni
• B) pineapple
• C) sausage
• D) mushrooms

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Definitions:

Long Run Average Cost Curve

A graphical representation showing the minimum average cost at which any output level can be produced in the long term when all inputs, including capital, are variable.

Increasing Returns to Scale

A situation in which a proportionate increase in all inputs leads to a greater proportional increase in output, indicating improved production efficiency.

Diminishing Marginal Returns

A principle stating that if one factor of production is increased while others remain constant, the overall returns will gradually decrease after a certain point.

Long-Run Average Cost Curves

A graphical representation showing the average cost per unit of output over a long period, where all inputs, including capital, are variable.