If a Firm Increases Its Output in the ________ and Unit

question 14

Multiple Choice

If a firm increases its output in the ________ and unit costs ________, then the firm is experiencing ________ of scale.

• A) short run; decrease; economies
• B) long run; increase; diseconomies
• C) short run; decrease; diseconomies
• D) long run; increase; economies
• E) long run; decrease; diseconomies

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Definitions:

Marking-to-Market

An accounting practice where assets and liabilities are valued according to current market prices, rather than book or historical prices.

Troy Ounce

A unit of measure used for precious metals, slightly heavier than an avoirdupois ounce, equal to approximately 31.1035 grams.

Silver Contract

A legally binding agreement for the purchase or sale of silver in the future at an agreed-upon price.

Futures Contracts

A standardized legal agreement to buy or sell something at a predetermined price at a specified time in the future, often used for hedging or speculation on financial markets.