Returns That Occur in the Long Run When an Increase

question 81

Multiple Choice

Returns that occur in the long run when an increase in the quantity of output increases average total cost are called:

• A)economies of scale.
• B)diseconomies of scale.
• C)constant returns to scale.
• D)minimum average total cost.

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Definitions:

Stapedectomy

A surgical procedure aimed at improving hearing by removing part or all of the stapes bone in the middle ear and replacing it with a small prosthetic device.

Tympanectomy

A surgical procedure involving the removal of all or part of the eardrum, often to treat infections or other ear problems.

Ossicles

The three small bones in the middle ear known as the malleus, incus, and stapes, which transmit sound vibrations to the inner ear.

Incus

A small anvil-shaped bone in the middle ear that transmits sound vibrations from the malleus to the stapes.