When There Are Economies of Scale in Production, _____

question 11

Multiple Choice

When there are economies of scale in production, _____.

• A)long-run average total cost decreases as output expands
• B)long-run average total cost increases as output expands
• C)marginal cost increases as output expands
• D)the marginal product of an input diminishes with increased utilization
• E)social marginal cost declines as the level of output increases

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Definitions:

Psychoanalytic Theory

A theory of personality development and the workings of the mind proposed by Sigmund Freud, emphasizing unconscious processes and childhood experiences.

Unconscious Wishes

Desires or thoughts that reside in the unconscious mind, not readily accessible to the conscious mind but influencing behavior and emotions.

Dreaming

A sequence of thoughts, images, and sensations occurring in a person's mind during sleep.

Memory Performance

The efficiency and accuracy with which an individual can store, retain, and recall information.