Use the Following to Answer Question(s): Long-Run Average Cost

question 166

Multiple Choice

Use the following to answer question(s) : Long-Run Average Cost

-(Exhibit: Long-Run Average Cost) Output per period in the region B to C indicates that a firm is experiencing:

• A) constant returns to scale.
• B) diseconomies of scale.
• C) economies of scale.
• D) falling marginal cost.

---

Definitions:

Virginia Plan

A proposal by Virginia delegates for a bicameral legislative branch during the drafting of the United States Constitution in 1787.

Declaration of Independence

A foundational document adopted on July 4, 1776, in which the thirteen American colonies declared their independence from British rule.

Revolutionary War

The Revolutionary War, also known as the American Revolution, was the conflict between thirteen American colonies and British rule that led to the formation of the United States of America after the colonies won their independence.

Compromise

An agreement or settlement reached by each party making concessions.