The Long-Run Average Total Cost Curve Is Always

question 54

Multiple Choice

The long-run average total cost curve is always

• A)flatter than the short-run average total cost curve, but not necessarily horizontal.
• B)horizontal.
• C)falling as output increases.
• D)rising as output increases.

---

Definitions:

Standardization of Skills

The process of establishing and promoting certain skills as norms or requirements, ensuring a consistent skill set across individuals in a domain.

Standardization of Outputs

The process of making the products, services, or results produced by a system or organization uniform in quality and specification.

Direct Supervision

The management approach where a supervisor is directly involved in overseeing the day-to-day activities and performance of employees.

Liaison Roles

A responsibility involving acting as an intermediary to ensure effective communication and cooperation between distinct groups or departments within an organization.