Economies of Scale Refers to Returns That Occur When

question 112

Multiple Choice

Economies of scale refers to returns that occur when:

• A)an increase in the quantity of output decreases average total cost in the long run.
• B)an increase in the quantity of output increases average total cost in the long run.
• C)average total cost does not depend on the quantity of output in the long run.
• D)None of these is true.

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Definitions:

Hidden Object Test

A research technique invented by Piaget to assess object permanence in infants from 6 months old. An interesting object, like a small toy, is placed in front of a baby within her reach. As the baby watches, the experimenter covers the object so that it is out of sight. If the baby searches for the object under the cloth she demonstrates that she has a sense of the continued existence of absent objects.

Object Permanence

The fact that objects have a separate existence from the perceiver; that is, they continue to exist even when no one perceives them.

Preoperational Thought

Refers to a stage in Jean Piaget's theory of cognitive development where children from 2 to 7 years old are able to engage in symbolic play but have not yet understood the concept of logical operations.

Language Learning

The process by which individuals acquire the ability to perceive, comprehend, and produce verbal and non-verbal forms of communication.