Which of the Following Is a Condition for Industry Expansion

question 1

Multiple Choice

Which of the following is a condition for industry expansion through expansion of existing firms instead of entry of new firms?

• A)Firms take advantage of diseconomies of scale.
• B)A firm size is greater than the minimum efficient sale.
• C)A firm's average total cost decreases as a result of technological change.
• D)A firm produces beyond the minimum long-run average total cost.
• E)Firms make normal profits.

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Definitions:

Quantitative Sample Statistic

A numerical measurement that describes an attribute of a sample of a population.

Statistical Quality Control

A method of using statistical methods to monitor and control a process to ensure that it operates at its full potential to produce conforming product.

Control Limits

The boundaries in control charts that distinguish between normal and abnormal variations of the process being monitored.

Quality Control Measures

Quality control measures are the techniques and activities used to ensure that the quality of a product or service meets certain standards and specifications.