Which of the Following Describes the Decrease in Per Unit

question 20

Multiple Choice

Which of the following describes the decrease in per unit cost resulting from an increased number of products manufactured?

• A) Economies of scale
• B) Economies of scope
• C) Law of diminishing returns
• D) Law of supply and demand
• E) Law of diminishing margins

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Definitions:

Intelligence

Intelligence is a complex trait that encompasses cognitive abilities, such as reasoning, problem-solving, and learning.

Stereotype Threat

The psychological experience of anxiety or concern in a situation where a person has the potential to confirm a negative stereotype about their social group.

Aptitude Test

A standardized test designed to measure an individual's potential to acquire specific skills or knowledge.

Ravens' Progressive Matrices

A nonverbal group test typically used to measure abstract reasoning and regarded as a test of fluid intelligence.