Some Goods Can Be Produced at Low Cost Only If

question 247

Multiple Choice

Some goods can be produced at low cost only if they are produced in large quantities.This phenomenon is called

• A)marginal cost of production.
• B)marginal benefit of size.
• C)economies of scale.
• D)economies of production.

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Definitions:

Varies

Refers to the differences or changes in size, amount, degree, or nature among things or over time.

Working Memory

The part of short-term memory that is concerned with immediate, conscious perceptual and linguistic processing.

Functions

In mathematics, the relationship or expression that associates each element of a set with exactly one element of another set. In general use, it refers to the natural purpose or activities specific to a person, thing, or institution.

Nativist Theory

A perspective suggesting that certain skills or abilities are "native" or hard-wired into the brain at birth.