If a Company Has Significant Economies of Scale in the Long

question 9

Multiple Choice

If a company has significant economies of scale in the long run-assuming a large market -the company will tend to

• A)grow larger and have a declining average cost curve.
• B)become smaller and have a declining average cost curve.
• C)grow larger and have a rising average cost curve.
• D)become smaller and have a rising average cost curve.

Appreciate the polygenetic nature of intelligence and the role of many genes in cognitive abilities.

Comprehend the relationship between intelligence test scores among family members and the influence of heredity.

Recognize how life span studies contribute to our understanding of intelligence stability and change over time.

Understand the health and longevity correlations with intelligence and the possible explanations for these associations.

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Definitions:

Accounts Payable

Accounts payable are liabilities of a business that represent its obligations to pay off a short-term debt to its creditors or suppliers.

Service Revenue

The income earned by a company for the services it has provided to its customers.

Normal Starting Balance

Normal Starting Balance refers to the initial amount of money in an account at the beginning of a financial period.

Debit Postings

Entries made on the left side of an account, increasing the balance of assets and expenses or decreasing liabilities and equity.