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:

Sense of Isolation

The feeling of being detached or separated from others, often leading to loneliness or depression.

Sense of Despair

A profound feeling of hopelessness and inadequacy, often associated with existential crises or the late stages of Erikson's psychosocial development theory.

Feelings of Generativity

A sense of contribution to the well-being of the next generation, characterized by a desire to nurture, guide, and offer outputs to society that lasts beyond one's lifetime.

Wisdom and Integrity

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