The Figure Given Below Shows Three Short Run Average Total

question 31

Multiple Choice

The figure given below shows three Short Run Average Total Cost (SRATC) curves and the Long Run Average Total Cost (LRATC) curve of a firm.Figure 8.3

-As the confectionary, Mrs. Fields' Cookies, gained popularity in California and decided to expand its operations to Utah, it was able to achieve economies of scale. This means that:

• A)property taxes were lower in its new location in Utah.
• B)transport and communication systems were more developed in Utah.
• C)wages were higher in Utah compared to California.
• D)expansion of output and firm size led to specialization among the workers.
• E)government policies were more favorable in Utah.

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Definitions:

Human Brain

A complex organ in vertebrates responsible for processing sensory information, regulating vital functions, and enabling thought, emotion, and memory.

Nerve Cells

Specialized cells that transmit electrical signals throughout the nervous system, also known as neurons.

Neurons

Specialized neurons in the nervous system responsible for conveying information to other neurons, muscle cells, or glands.

Radioimmunoassay

A sensitive laboratory technique used to measure concentrations of substances, such as hormones, in a sample, using antibodies and radioactively labeled substances.