Examlex

Solved

In IDEF1X,a Category Cluster Includes BLACK and WHITE,but Does Not

question 15

Multiple Choice

In IDEF1X,a category cluster includes BLACK and WHITE,but does not show GREY,which is also a possible category.This is an IDEF1X:


Definitions:

Long-run Average Total Cost

The average cost per unit of output when all inputs, even physical capital, are adjustable, over a sufficient time period.

Economies of Scale

Cost advantages that enterprises obtain due to their scale of operation, characterized by a reduction in average cost per unit when output is increased.

Diseconomies of Scale

The phenomenon where production costs per unit increase as the volume of output increases.

Constant Returns to Scale

A situation in economics where increasing the inputs in production proportionately increases the output.

Related Questions