An Increase in Output Would Result in No Change in Long-Run

question 318

Multiple Choice

An increase in output would result in no change in long-run average costs when there are

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

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Definitions:

Ego

In psychoanalytic theory, the part of the mind that mediates between the conscious and the unconscious and is responsible for reality testing and a sense of personal identity.

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External Locus of Control

A psychological concept referring to the belief that outside forces, rather than personal actions, control one’s life outcomes.

Rotter

A psychologist best known for his work in social learning theory and the concept of locus of control.