Which One of the Statements Is True?​

question 61

Multiple Choice

Which one of the statements is true?​

• A)​Diminishing returns is a long-run concept while decreasing returns to scale is a short-run concept.
• B)Diminishing returns is a short-run concept while decreasing returns to scale is a long-run concept.
• C)Diminishing returns is a both short and long-run concept while decreasing returns to scale is a short-run concept.
• D)​Diminishing returns is a long-run concept while decreasing returns to scale is a short and long-run concept.

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Definitions:

Highest Levels

The utmost or maximum degree or amount of something.

Strategic Planning

The process of defining an organization's direction and making decisions on allocating its resources to pursue this strategy.

Cost-Responsiveness Efficient Frontier

A concept in supply chain management indicating the optimal point where the cost of providing a certain level of responsiveness is minimized.

Supply Chain Efficiency

The optimization of a company's supply-side activities to maximize customer value and gain a competitive advantage in the market.