A Horizontal Long-Run Average Cost Curve Indicates

question 375

Multiple Choice

A horizontal long-run average cost curve indicates

• A) constant returns to scale.
• B) diseconomies of scale.
• C) constant marginal physical product.
• D) economies of scale.

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Definitions:

Corollaries

Propositions that follow from and are often appended to a theorem or proposition that has already been proven.

Role Construct Repertory

A psychological tool used to help individuals identify how they construe significant persons in their lives, revealing their personal construct systems.

Validity

The degree to which an idea, conclusion, or measurement is grounded in reality and probably reflects the actual state of affairs accurately.

Repertory Grid

A technique used in personal construct psychology to explore the ways in which individuals construe their experiences and people in their lives.