Table 13-10 Consider the Following Table of Long-Run Total Cost for Four

question 6

Multiple Choice

Table 13-10
Consider the following table of long-run total cost for four different firms

-Refer to Table 13-10.Which firm has diseconomies of scale over the entire range of output?

• A)Firm 1
• B)Firm 2
• C)Firm 3
• D)Firm 4

---

Definitions:

Agent's Negligence

A situation where an agent fails to perform duties with the required level of care or competence, resulting in harm or damage.

Tort Remedies

Legal solutions provided to victims of torts, including compensation for losses, injunctions, and restitution aimed at rectifying harm.

Contract Remedies

Legal actions or compensation methods available to enforce, rectify, or compensate for the breach of a contract.

Express Agency

A principal-agent relationship formed by explicit written or oral agreement between the agent and the principal.