The Table Given Below Shows the Average Total Cost of Production

question 56

Multiple Choice

The table given below shows the average total cost of production of a firm at different levels of the output.Table 8.5

-All these factors can lead to economies of scale in production, except:

• A)division of labor that helps in specialization.
• B)merger of two firms.
• C)hiring larger machines which are more efficient than the smaller ones.
• D)increase in overhead expenses.
• E)research and development.

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Definitions:

Human Nature

The fundamental qualities, such as thought processes, emotions, and behaviors, considered common among all human beings.

Becoming

The process of undergoing change or development towards a specific state or quality.

Proprium

A term used by psychologist Gordon Allport to refer to the core aspects of self that define personal identity and consistency.

Adolescence

The transitional stage of physical and psychological development that generally occurs during the period from puberty to legal adulthood.