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

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Definitions:

Leanest

Referring to the most efficient and effective state of an operation with minimal waste.

Communication Medium

The method or channel through which communication occurs, such as email, telephone, or face-to-face conversations.

Multimedia Presentations

A method of presenting information or content that incorporates multiple forms of media, such as text, audio, images, animations, or video.

Oral Medium

A method of communication where information is transmitted through spoken words.