If, When a Firm Doubles All Its Inputs, Its Average

question 76

Multiple Choice

If, when a firm doubles all its inputs, its average cost of production decreases, then production displays

• A)diminishing returns.
• B)economies of scale.
• C)diseconomies of scale.
• D)declining fixed costs.

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Definitions:

Market Share

The percentage of an industry's sales that a particular company controls, indicating the company's size and competitiveness within the market.

Cloudsourcing

The process of outsourcing various tasks or services to cloud-based services, as opposed to traditional in-house or physical resources.

Video Games

Electronic games that involve interaction with a user interface to generate visual feedback on a two- or three-dimensional video display device.

Product Mix

The complete set of products and/or services offered by a company to its customers, encompassing variety, features, and quality levels.