Figure 13-7 -Refer to Figure 13-7.If the Diagram Represents a Typical Firm

question 101

Multiple Choice

Figure 13-7
-Refer to Figure 13-7.If the diagram represents a typical firm in the market,what is likely to happen to its average cost of production in the long run?

• A)It will probably fall since the firm must be cost efficient to remain competitive.
• B)It will probably fall since the firm will be selling less than its current amount.
• C)It will probably rise since the firm will be producing less than its current amount.
• D)It will probably rise since its long-run demand is likely to be higher.

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Definitions:

Scapula

A large, flat triangular bone on the posterior side of the shoulder, also known as the shoulder blade.

Flexes

Refers to the action of bending a limb or joint.

Rotates

To move or turn around a central point or axis.

Below The Elbow

Referring to the part of the arm or to treatments and prosthetics that are applied to the forearm and hand, distal to the elbow joint.