If, When a Firm Doubles All Its Inputs, Its Average

question 76

Multiple Choice

If, when a firm doubles all its inputs, its average cost of production decreases, then production displays

• A)diminishing returns.
• B)economies of scale.
• C)diseconomies of scale.
• D)declining fixed costs.

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Definitions:

Psychological Damage

Refers to harm that impacts an individual's mental processes or emotional well-being, often resulting from traumatic experiences or sustained stress.

Genetic Defects

Abnormalities in an organism's DNA that can lead to diseases or conditions inherited by offspring.

Social Construction

A theory that explains how societal norms, values, and beliefs shape the perception and understanding of reality.

Moral Category

A classification based on values, ethics, or principles that guide judgments about what is right and wrong.