When Economies of Scale Exist, an Increase in the Level

question 30

Multiple Choice

When economies of scale exist, an increase in the level of output will lead to:

• A)a decrease in cost per unit
• B)an increase in cost per unit.
• C)a decrease in total cost.
• D)a decrease in profit per unit.
• E)a decrease in total revenue.

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Definitions:

Fixed Pay

A predetermined amount of salary or wages that an employee receives on a regular basis, such as weekly or monthly, regardless of performance.

Maslow's Needs Hierarchy

Maslow's Hierarchy of Needs is a psychological theory that categorizes human needs into a five-tier model, ranging from basic (physiological) needs to higher-level (self-actualization) needs.

Humanistic Approach

A psychological perspective emphasizing the individual's inherent drive towards self-actualization and creativity, focusing on personal growth and subjective experience.

Holistic

An approach that emphasizes the importance of the whole and the interdependence of its parts.