As Output Increases, Diseconomies of Scale

question 179

Multiple Choice

As output increases, diseconomies of scale

• A)lead to rising long-run average costs
• B)lead to declining long-run average costs
• C)lead to rising short-run average total costs
• D)lead to declining short-run total cost
• E)means the law of diminishing marginal returns is affecting production

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Definitions:

Non Est Factum

A legal defense claiming a contract is invalid because it was misunderstood or misrepresented at the time of signing, not reflective of the signer's intent.

Unconscionability

A condition in contract law where an agreement is deemed unjust or extremely one-sided in favor of the party with superior bargaining power.

Duress

A condition where a person performs an act as a result of violence, threat, or other pressures against them, undermining their free will.

Privity of Contract

A legal doctrine stating that only parties involved in a contract are entitled to enforce it or be sued under it.