Work on Your Communication Skills ___________________________

question 61

Multiple Choice

Work on your communication skills ___________________________

• A)when you have been with the company for a while.
• B)When you get a promotion.
• C)before starting your business career.
• D)when you are assigned to a team.

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Definitions:

Constant Returns to Scale

A situation in which increasing the amount of inputs results in a proportional increase in outputs.

Diseconomies of Scale

A situation in which production costs increase as a firm’s output increases, leading to decreased efficiency.

Decreasing Returns to Scale

Decreasing Returns to Scale occurs when a firm increases all inputs by a certain proportion, but the output increases by a smaller proportion, indicating reduced efficiency.

Average Costs

The total cost of production divided by the number of units produced, often used to assess efficiency and profitability.