What Kind of Economies Come from Reductions in Cost Due

question 8

Multiple Choice

What kind of economies come from reductions in cost due to adoption of technology that has high fixed costs,but lower variable costs?

• A)Short-run economies of scale
• B)Short-run economies of scope
• C)Long-run economies of scale
• D)Long-run economies of scope
• E)Partially automated economies

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Definitions:

Ill-Tempered

Characterized by a tendency towards easily becoming angry or irritated, often showing a lack of patience or tolerance.

Stubborn

Possessing a firm adherence to one's own opinions or plans, often to the point of resisting change or advice from others.

Flexible

Capable of being adapted or changed to accommodate new circumstances.

Impatient

The feeling of annoyance or irritation when faced with delay, often leading to a desire for immediate satisfaction or action.