In the Long Run,when an Increase in the Quantity of Output

question 59

Multiple Choice

In the long run,when an increase in the quantity of output decreases average total cost,this is called:

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

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Definitions:

Operations Charts

Visual representations of the detailed sequence of operations and flow of materials through a system or process.

Non-monetary Incentives

Rewards or benefits given to employees or participants that do not involve direct financial compensation, such as recognition or career advancement opportunities.

Monetary Rewards

Financial incentives provided to employees or individuals to motivate performance and achievement of specific goals.