The Technique That Estimates Long-Run Costs and the Minimum Efficient

question 72

Multiple Choice

The technique that estimates long-run costs and the minimum efficient scale by determining the scale of operation at which most firms in an industry are concentrated is called the:

• A)engineering estimation technique.
• B)statistical cost estimation technique.
• C)survivor approach.
• D)back-of-the-envelope approach.

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Definitions:

Project Head Start

Early childhood intervention program funded by the U.S. federal government that provides low-income children with nutritional, health, and educational services, as well as helps parents become involved in their children’s development.

Federal Government

The national government of a federated state, which shares sovereignty with its sub-national units.

Economically Disadvantaged

Pertaining to individuals or groups who lack financial resources or face economic hardship.

Cognitive-Developmental Perspective

A theoretical viewpoint that analyzes and describes how human cognition unfolds and changes over the course of childhood and adolescence.