If a Firm Is Experiencing Diseconomies of Scale,its Long-Run Average

question 40

True/False

If a firm is experiencing diseconomies of scale,its long-run average cost curve is upward sloping.

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Definitions:

Standard Of Living

A measure of the wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area.

Impossibility Theorem

A principle, often associated with Arrow's impossibility theorem, indicating that no voting system can convert the ranked preferences of individuals into a community-wide ranking while also meeting a set of reasonable criteria.

Individual Preferences

The specific likes, dislikes, desires, and priorities that guide an individual's choices or decisions.

Voting Scheme

A system or method used to facilitate and process votes, typically within the context of elections, decision-making processes, or preference assessments.