Long-Run Cost Curves Are U-Shaped Because

question 163

Multiple Choice

Long-run cost curves are U-shaped because

• A)of the law of demand.
• B)of the law of diminishing returns.
• C)of economies and diseconomies of scale.
• D)of the law of supply.

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Definitions:

Inoculation

A psychological technique aimed at protecting individuals from persuasion or influence by exposing them to a small dose of the argument against their beliefs.

Disappointment

The feeling of sadness or displeasure caused by the non-fulfillment of one's hopes or expectations.

Organizational Choice

The process by which individuals make decisions within organizational settings, often involving the selection of strategies or alternatives.

Entry Process

The procedure or set of steps one follows to begin participation in an organization, program, or system.