If the Output Elasticity of Total Cost Is Less Than

question 76

Multiple Choice

If the output elasticity of total cost is less than one, then the long-run average cost curve experiences:

• A)economies of scale.
• B)diseconomies of scale.
• C)decreasing returns to scale.
• D)the minimum efficient scale.

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Definitions:

Combination of Ideas

The process of merging different concepts or thoughts to create a new, innovative outcome.

Traditional Brainstorming

A creative problem-solving and idea-generating technique in which group members spontaneously contribute ideas.

Electronic Brainstorming

A creative group problem-solving technique conducted through electronic means, allowing for the anonymous submission of ideas.

Rational Brainstorming

A method of idea generation focusing on logical and structured approaches to solve problems or generate new concepts.