Table 7-B
the Long-Run Total Cost Schedule of a Perfectly

question 163

Multiple Choice

Table 7-B
The long-run total cost schedule of a perfectly competitive firm that produces walnuts is as follows:
$\begin{array}{llcc} \text { Pounds of} & 1,000&2,000&3,000&4,000&5,000&6,000 \\ \text { Walnuts } &\\ \text { Total Cost} &\$3,000&\$5,500&\$7,500&\$8,000&\$11,000&\$15,000\\\end{array}$

-Refer to Table 7-B.A firm expanding from producing 5,000 to 6,000 pounds of walnuts in the long run is experiencing:

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

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Definitions:

Emotional Resources

Emotional resources are the internal assets, such as resilience, optimism, and emotional intelligence, that individuals draw upon to manage stress and challenges.

Material Resources

Physical or tangible assets that can be used to produce goods and services, including natural resources, buildings, machinery, and tools.

Laissez-faire Leadership

A leadership style characterized by minimal intervention in the affairs of others, allowing people to act according to their own preferences.

Subordinates

Individuals or groups who are lower in rank, position, or authority within a hierarchy.