In the Long Run, the Total Cost of Producing Any

question 18

Multiple Choice

In the long run, the total cost of producing any given quantity of output can never be greater than the cost of producing that amount in the short run; therefore, the long-run total cost curve lies _______________________ the short-run total cost curve.

• A) below
• B) above
• C) sometimes above and sometimes below

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Definitions:

Transitivity

In mathematics and logic, transitivity is a property of binary relations that if an element A is related to B, and B is related to C, then A is also related to C.

Mainstreaming

The educational practice of integrating children with special needs into standard classrooms and activities as much as possible.

Immanent Justice

The belief, often held by children, that moral infractions are always punished spontaneously by a natural force or intrinsic mechanism.

Moral Realism

The judgment of acts as moral when they conform to authority or to the rules of the game.