If a Firm Decreases Its Plant Size and Finds That

question 136

Multiple Choice

If a firm decreases its plant size and finds that its long-run average costs have decreased, then

• A)its labour is more productive in a smaller plant.
• B)its diseconomies of scale are less.
• C)the firm should reduce its plant size even more.
• D)the firm is now profitable.

Define the roles and characteristics of devices that connect networks.

Understand the types of networks based on scope and architecture.

Identify different network mediums and their characteristics.

Understand the concepts of Internet speeds and how they are referred to.

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Definitions:

Inequality Principle

A concept in social and political philosophy suggesting that social or economic inequalities are justified only if they benefit the least advantaged members of society.

Institutions

Established organizations or systems in society with specific purposes and roles, such as educational, religious, or governmental entities.

Well-Ordered Society

A society in which there are mutually accepted principles of justice governing the basic structure of the main institutions.

Morally

Pertaining to principles of right and wrong in behavior; ethical.