Doubling the Circumference of an Oil Pipeline More Than Doubles

question 180

Multiple Choice

Doubling the circumference of an oil pipeline more than doubles the volume of oil that can be pumped through.This strategy is chosen only by large firms because it results in _____

• A)production inefficiency.
• B)diminishing marginal returns.
• C)diseconomies of scale.
• D)constant returns to scale.
• E)economies of scale.

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Definitions:

Strategic Thinking

The ability to anticipate, envision, maintain flexibility, and work with others to initiate changes that will benefit in the future.

Risk-taking Behaviour

Refers to the propensity of an individual or organization to engage in actions that have potential for significant loss or gain.

New Opportunities

Refers to emerging chances or prospects that can potentially lead to growth, development, or benefits in various contexts such as business, career, or innovation.

Internal Locus

A psychological concept indicating that individuals believe they have control over the events in their lives.