The Slope of a Nonlinear Function at Some Particular Point

question 35

Multiple Choice

The slope of a nonlinear function at some particular point

• A)is the slope of the straight line that is tangent to the function at that point.
• B)is the slope of the straight line connecting the origin and the point.
• C)cannot be determined.
• D)is constant for the entire function.

---

Definitions:

Economies of Scale

The cost advantages that a business can exploit by expanding their scale of production, leading to a lower cost per unit.

Diseconomies of Scale

Increased costs per unit that occur when a company grows too large, leading to inefficiencies.

Long-Run Average Cost Curve

A graphical representation showing the minimum cost per unit at which a firm can produce any given level of output in the long run when all inputs are variable.

Diseconomies of Scale

The phenomenon where, as a firm becomes too large, its costs per unit increase due to inefficiencies, leading to a decrease in overall productivity or cost-effectiveness.