If an Industry Is Experiencing Average Costs That Are Always

question 46

Essay

If an industry is experiencing average costs that are always declining as the output increases,what would you expect the efficient scale to be?

---

Definitions:

Nondelegable Duty

A duty that the proprietor cannot delegate, or pass off, to another party.

Actual Warranty

A promise or guarantee provided by a seller regarding the condition and functionality of a product.

Implied Warranty

A warranty that is imposed by law rather than by statements, descriptions, or samples given by the seller.

C.P.A.

Stands for Certified Public Accountant, a designation given to someone who has passed the Uniform CPA Examination and met additional state education and experience requirements.