Which of the Following Statements Is False

question 194

Multiple Choice

Which of the following statements is false?

• A)In the long run, there are no fixed costs.
• B)Marginal cost is independent of fixed costs.
• C)Economies of scale is a short-run concept.
• D)Diminishing marginal product explains increasing marginal cost.

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Definitions:

Stereotype

A fixed, oversimplified, and often inaccurate idea of the characteristics that typify a person or group, leading to prejudiced attitudes and actions.

Academic Achievers

Individuals who attain a high level of success in educational settings through excellent performance and grades.

Professional Athletes

Individuals who are paid to compete in sports at an expert level.

Mere Exposure Effect

The mere exposure effect is a psychological phenomenon where individuals develop a preference for things merely because they are familiar with them.