What Kind of Economies Come from Reductions in Average Costs

question 4

Multiple Choice

What kind of economies come from reductions in average costs due to increases in capacity utilization?

• 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)Fully automated economies

---

Definitions:

Personal Choice

The freedom of individuals to make decisions for themselves, based on personal preferences, beliefs, or values, without external coercion or limitation.

Asian Producers

Refers to manufacturers or creators of goods in Asian countries, often noted for their significant role in global supply chains.

American Culture

A diverse mix of customs, traditions, values, and norms influenced by the historical experiences and social dynamics of the United States.

Big Historical Project

A comprehensive initiative aimed at studying or undertaking activities that have widespread, long-lasting impact on history or historical understanding.