If Average Costs of Production Decline with Increases in Output

question 22

Multiple Choice

If average costs of production decline with increases in output for a particular firm:

• A)many small firms will be more efficient than a single large firm.
• B)one large producer will be more efficient than many small producers.
• C)product diversification is necessary to spread the overhead.
• D)diseconomies of scale become significant as output increases.
• E)the variable cost of production must exceed the fixed costs.

Understand the evolutionary advantages of bilateral symmetry and cephalization in animals.

Understand the characteristics that define the Ecdysozoa clade and the significance of molting in this group.

Identify and categorize different groups of drugs and their primary effects.

Understand the psychological and physiological effects of cannabis.

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Definitions:

Socialism

An economic system in which the government owns and operates basic industries but individuals own most businesses.