The Decreasing Portion of a Firm's Long Run Average Cost

question 112

Multiple Choice

The decreasing portion of a firm's long run average cost curve is attributable to:

• A) diminishing returns to scale.
• B) increasing marginal cost.
• C) economies of scale.
• D) diseconomies of scale.

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Definitions:

Development

The process of growth, change, and progress in physical, social, economic, and emotional dimensions across the lifespan or within societies.

Infant

A young child in the earliest period of life, especially from birth to one year of age.

Categorize Objects

The cognitive process of grouping or classifying objects based on shared characteristics or functions.

Bayley-III

A comprehensive developmental test used for assessing the development of infants and toddlers.