If a Firm Increases Its Output in the ________ and Unit

question 17

Multiple Choice

If a firm increases its output in the ________ and unit costs ________,then the firm is experiencing ________ of scale.

• A) long-run; decrease; economies
• B) short-run; decrease; economies
• C) long-run; decrease; diseconomies
• D) short-run; decrease; diseconomies
• E) long-run; increase; economies

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Definitions:

Accounting Cycle

The four-step procedure of an accounting system: examining source documents, recording transactions in an accounting journal, posting recorded transactions, and preparing financial statements.

Accounting Cycle

The collective process of recording and processing the accounting events of a company, from when the transaction occurs, to its representation in the financial statements, followed by closing the accounts.