The Figure Given Below Shows Three Short Run Average Total

question 7

Multiple Choice

The figure given below shows three Short Run Average Total Cost (SRATC) curves and the Long Run Average Total Cost (LRATC) curve of a firm.Figure 8.3

-In the electricity generation industry, the cost per kilowatt hour of electricity declines as the capacity to generate output increases. This situation represents:

• A)a poor opportunity for investors.
• B)constant returns to scale.
• C)diseconomies of scale.
• D)economies of scale.
• E)decreasing returns to scale.

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Definitions:

Immigration

The action of moving to a foreign country to live permanently.

Pre-migration

The period before migration that involves preparation and decision-making processes by potential migrants.

Brain Drain

The migration of skilled professionals from one country to another, often for better career opportunities or living conditions.

Highly Educated Workers

Individuals who have attained a high level of education, typically resulting in specialized skills and knowledge.