Choose the Word or Phrase in [ ] Which Will

question 18

Short Answer

Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
-A self-employed person could set up a [Keogh | 403(b)] retirement plan.

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Definitions:

Constant Returns

A situation in economics where increasing the scale of production does not affect the long-run average cost of production, implying it remains constant.

Initial Plant Sizes

The original capacity or scale of a facility when it first begins operations.

Purely Competitive

Characterizes a theoretical market structure emphasizing perfect competition, where numerous small firms face no barriers to entering or exiting the market.

Long Run

A period in which all inputs, including capital, are variable, allowing firms to adjust all factors of production.