Economies of Scale Exist Where the Long-Run Average Cost Curve

question 323

Multiple Choice

Economies of scale exist where the long-run average cost curve is

• A) horizontal.
• B) downward sloping.
• C) upward sloping.
• D) tangent to the marginal cost curve.

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Definitions:

Hampton Institute

A historically black university located in Hampton, Virginia, originally established to educate freed slaves and Native Americans.

Auburn Prison

A correctional facility in Auburn, New York, known for establishing the Auburn system, a model of prison discipline involving silent congregate labor.

Slaughter Of Buffalo

The mass killing of the American buffalo (bison) primarily in the 19th century, which nearly led to their extinction and had a profound impact on Native American cultures.

Great Plains Indians

Indigenous peoples who inhabited the Great Plains region of North America, known for their horse culture and buffalo hunting practices.