When Increasing Its Output Results in Falling Costs, a Firm

question 85

Multiple Choice

When increasing its output results in falling costs, a firm that can adjust all inputs is experiencing

• A) diseconomies of scale.
• B) economies of scale.
• C) loss.
• D) capital gains.

Understand the use of heuristics in decision-making.

Recognize the diverse styles and subjects in 17th-century Dutch and Flemish painting.

Understand the significance of artist’s attire and self-representation in 17th-century portraits.

Identify techniques and devices used by artists to create spatial depth and focus in paintings.

---

Definitions:

Factory Outlets

Retail stores owned by manufacturers that sell goods directly to consumers, often at discounted prices.

Single-Price

A pricing strategy where a product or service is sold at one fixed price to all customers.

Extreme-Value Retailer

is a retail store offering products at very low prices, often focusing on discounted, overstock, and closeout merchandise.

Warehouse Club

A membership-based retail store offering a wide variety of merchandise, often in bulk, at discounted prices.