Economies of Scale Are Best Described as Which of the Following

question 2

Multiple Choice

Economies of scale are best described as which of the following?

• A)The average cost remains constant as output increases
• B)The average cost increases as output increases
• C)The average cost declines as output increases
• D)The average costs are cheaper when a firm produces a wider variety of goods
• E)The average cost curve takes the form of a U-shape

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Definitions:

Startle Reflex

A quick, involuntary response or jump that humans and animals make in response to a sudden, unexpected stimulus.

Strange Situation

A research procedure devised by Mary Ainsworth in the 1970s to observe attachment relationships between a caregiver and child through a series of introductions, separations, and reunions.

Attachment

An emotional bond that forms between individuals, particularly in the context of a child's early relationships with caregivers.

Infants

Very young children, typically under one year of age, at the earliest stages of development.