If an Industry's Long-Run Average Total Cost Curve Has an Extended

question 71

Multiple Choice

If an industry's long-run average total cost curve has an extended range of constant returns to scale,this implies that:

• A) technology precludes both economies and diseconomies of scale.
• B) the industry will be a natural monopoly.
• C) both relatively small and relatively large firms can be viable in the industry.
• D) the industry will be comprised of a very large number of small firms.

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Definitions:

Violation

An act that goes against a law, rule, or code of conduct; an infringement.

Patient's Dignity

The respect for the inherent value and worth of each individual patient, recognizing their rights, privacy, and self-esteem in medical care.

Suffering Related

Refers to aspects or conditions that are associated with experiencing pain, distress, or hardship.

Ontological Health Model

A conceptual model focusing on the being and existence of individuals in relation to their health and well-being.