The Long-Run Expansion Path for a Firm

question 59

Multiple Choice

The long-run expansion path for a firm:

• A)is not necessarily linear,but always slopes upward.
• B)may be backward-bending,if a firm uses less of one input as output increases.
• C)may be backward-bending,if the firm uses more of both inputs as output increases.
• D)is always linear,but not necessarily upward-sloping.

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Definitions:

Outdated Computers

Computers that have become obsolete due to advances in technology or software.

Supply Chain

The entire system of producing and delivering a product or service, from the supplier of raw materials to the customer.

Logistics Management

The part of supply chain management that plans, implements, and controls the efficient, effective forward and reverse flow and storage of goods, services, and related information between the point of origin and the point of consumption.

Amazon

An American multinational technology company that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence, one of the world's largest online retailers.