Economies of Scale Occur in Major Transitions When

question 28

Multiple Choice

Economies of scale occur in major transitions when

• A) individuals aggregate.
• B) groups can perform tasks more efficiently than individuals.
• C) cell-type number increases.
• D) genes become genetically imprinted.

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Definitions:

Managers

Individuals responsible for controlling or administering an organization or group of staff.

Marginal Revenue Product

The extra revenue generated by employing one more unit of a factor, such as labor or capital, holding other factors constant.

Variable Factor

An input whose quantity can change depending on the level of production or the scale of operations in the short run.

Production

The process of creating goods or services by combining labor, capital, and resources to meet consumer demands.