Technical Economies of Scale Are Closely Related to Which of the Following

question 131

Multiple Choice

Technical economies of scale are closely related to which of the following?

• A)The law of diminishing returns.
• B)Decreasing returns to scale.
• C)Rising short-run average total cost.
• D)Falling short-run marginal cost.
• E)Increasing returns to scale.

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Definitions:

Inventory Flexibility

The ability of a supply chain to quickly adjust its inventory levels in response to shifts in demand, product variety, and market dynamics.

Random Variation

The unpredictable fluctuations or differences that can occur within any process or set of data due to chance.

Exponential Smoothing

A time series forecasting method for data smoothing using exponential window functions.

Customer Demand

The quantity of products or services that consumers are willing and able to purchase at various prices over a given period of time, influencing production and pricing strategies.