If an Industry's Long-Run Average Total Cost Curve Has an Extended

question 282

Multiple Choice

If an industry's long-run average total cost curve has an extended range of constant returns to scale, this implies that

• A)technology precludes both economies and diseconomies of scale.
• B)the industry will be a natural monopoly.
• C)both relatively small and relatively large firms can be viable in the industry.
• D)the industry will comprise a very large number of small firms.

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Definitions:

Antisocial Behaviors

Actions that harm or lack consideration for the well-being of others; often associated with personality disorders.

Diagnostic Criteria

Diagnostic Criteria are standardized guidelines used in mental health and medicine to identify and classify diseases and disorders.

Intermittent Explosive Disorder

Disorder characterized by (a) several episodes of failure to resist aggressive impulses that result in serious assaultive acts or destruction of property, (b) a degree of aggressiveness grossly out of proportion to the situation, and (c) symptoms not better explained by another mental disorder (such as antisocial personality disorder), the effects of substances, or a medical condition (e.g., a head trauma).

Assault

An act of causing physical harm to someone or attempting or threatening to do so.