What Does It Mean When an Abbreviated Word Is Circled,as

question 17

Multiple Choice

What does it mean when an abbreviated word is circled,as part of a correction symbol?

• A)The word should be spelled out.
• B)The word needs punctuation.
• C)The word is used incorrectly.
• D)The word should be replaced with a better word.

---

Definitions:

Decreasing Returns to Scale

A situation in which a firm experiences a less than proportional increase in output despite a proportional increase in all inputs, typically due to inefficiencies.

Increasing Opportunity Costs

The concept that as you produce more of one good, the opportunity cost of producing that next unit increases.

Scale Reduction

The process of downsizing the scope or size of operations, often in response to operational inefficiencies or declining profits.

Long-Run Average Total Cost

The average cost per unit of output incurred when all factors of production, including capital, are variable, considered over a sufficient period for all adjustments to be made.