What Would You Use to Add a Snowman to an Alice

question 38

Multiple Choice

What would you use to add a snowman to an Alice world?

• A) Method editor
• B) Scene editor
• C) Alice editor
• D) Object editor
• E) None of these

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Definitions:

Long Run

pertains to a time period in economics during which all factors of production and costs are variable, allowing for full adjustment to any change.

Diminishing Returns

A principle stating that as one input variable is increased, there will be a point at which the additions of output will begin to decrease, holding all other inputs constant.

Diseconomies of Scale

The phenomenon where production costs per unit increase as a firm operates at higher levels of output.

Long Run

A period in economic theory during which all factors of production and costs are variable.