The Positively-Sloped Part of the Long-Run Average Total Cost Curve

question 86

Multiple Choice

The positively-sloped part of the long-run average total cost curve is due to which of the following?

• A)Diseconomies of scale.
• B)Diminishing returns.
• C)The firm being able to take advantage of large-scale production techniques as it expands its output.
• D)The increase in productivity that results from specialization.

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Definitions:

Partially Performed

A term referring to a contract or agreement that has been started but not fully executed or completed.

Intended To Be Bound

A principle indicating that parties involved in an agreement wish and intend to be legally obligated under that agreement.

Void

Lacking legal validity or effect; something that is null and cannot produce any legal consequences.

Unenforceable

A term that describes a contract or clause that, due to certain legal deficiencies, cannot be upheld or enforced by a court.