A Firm Experiences Economies of Scale If:​

question 89

Multiple Choice

A firm experiences economies of scale if:​

• A)average cost declines as output increases.
• B)marginal cost declines as output increases.
• C)total cost increases as output increases.
• D)average returns decline as output increases.
• E)marginal revenue increases as output increases.

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Definitions:

Reunified

Brought back together into a single entity after having been divided or separated.

National Elections

Elections that determine the leadership and direction of a nation, often including the election of presidents, prime ministers, and legislative bodies.

Mohammed Mossadegh

An Iranian Prime Minister in the early 1950s known for his role in the nationalization of the Iranian oil industry and his subsequent overthrow in a coup d'état.

Nationalize

The process by which a government takes control of a private industry, business, or assets, often to ensure public access or control.