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

question 33

Multiple Choice

The negatively-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 difficulties encountered in coordinating the many activities of a large firm.
• D)The increase in productivity that results from specialization.

Describe the legal and military outcomes related to Native American removals.

Understand the challenges and requirements for American settlement in the Southwest.

Identify the motivations and consequences of American filibustering in Latin America and Mexico.

Recognize the effects of western European trade practices on global prestige.

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Definitions:

Opportunity Cost

The missed opportunity to benefit from other choices when selecting a particular option.

Pages

Typically refers to sheets of paper bound together within a book, or the digital equivalent in documents, used to display printed or written material.

Comparative Advantage

The ability of an individual, firm, or country to produce a certain good or service at a lower opportunity cost than competitors.

Absolute Advantage

The ability of an individual, firm, or country to produce more of a good or service than competitors using the same amount of resources.