Economies of Scale Are Reductions in Average

question 22

Multiple Choice

Economies of scale are reductions in average

• A)Total cost that result from declining average fixed costs.
• B)Fixed cost that result from reducing the firm's scale of operations.
• C)Total cost that result from using operations of larger size.
• D)Fixed cost resulting from improved technology and production efficiency.

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Definitions:

Universal Moral Rules

Fundamental ethical principles that are widely accepted and applied across different cultures and societies.

Categorical Imperative

A central concept in the moral philosophy of Immanuel Kant that dictates an action is morally right if it can be universally applied.

Lies

False statements made with the deliberate intention to deceive; an intentional untruth.

Prima Facie Duty

An obligation that appears to be binding upon first view, but may be overridden by stronger moral considerations.