When a Firm's Long-Run Average Cost Curve Is Horizontal for a Range

question 251

Multiple Choice

When a firm's long-run average cost curve is horizontal for a range of output, then that range of production displays

• A)increasing returns to scale.
• B)constant returns to scale.
• C)decreasing returns to scale.
• D)constant average fixed costs.

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Definitions:

Auscultatory Method

A technique for measuring blood pressure using a stethoscope and sphygmomanometer to listen to the Korotkoff sounds in an artery.

Korotkoff Sounds

Sounds heard through a stethoscope during the measurement of blood pressure with a sphygmomanometer, used to determine systolic and diastolic pressures.

Stethoscope

A medical instrument used for listening to the internal sounds of the body, such as heartbeats and lung sounds.

Posterior Abdominal Wall

The area at the back of the abdominal cavity, bounded by the vertebral column, pelvic girdle, and diaphragm, supporting and protecting internal organs.