If a Firm Has Excess Capacity, It Means

question 155

Multiple Choice

If a firm has excess capacity, it means

• A)that the firm expends too much of its resources on advertising its product without seeing an appreciable increase in sales.
• B)that the firm is not producing its minimum efficient scale of output.
• C)that the firm's long-run average cost of producing a given quantity exceeds its short-run cost of producing that same quantity.
• D)that the firm's quantity supplied exceeds its quantity demanded.

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Definitions:

Identity

How a person perceives themselves and how they are recognized by others, encompassing aspects like personality, nationality, and other defining characteristics.

Belonging

A feeling of security and support when a person feels accepted and valued in a group or community.

Anonymity

The state of being anonymous, where an individual's identity is unknown or kept secret.

Social Conversation

Interactions through spoken, written, or signed language among individuals or groups for the purpose of sharing information, experiences, or ideas.