The Average Cost Curve of Regular Products Is U-Shaped and Has

question 16

True/False

The average cost curve of regular products is U-shaped and has an optimal lowest point,but with digital products the average cost per unit declines as quantity increases.

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Definitions:

Geographic Immobilities

The difficulties and barriers in moving jobs or resources across different geographic locations, affecting labor markets and resource allocation.

Unionization Rate

The percentage of a particular population of workers that belongs to labor unions; alternatively, the percentage of a population of workers that is represented by one union or another in collective bargaining.

Union Members

Individuals who belong to an organization that represents workers in negotiations with employers over wages, benefits, and working conditions.

Shirking

Shirking describes when employees underperform or exert less effort than expected because of insufficient incentives or the absence of effective monitoring.