Determine If the Given Points Are Collinear

question 123

Multiple Choice

Determine if the given points are collinear. (3, -1) , (5, 4) , (-1, -11)

• A) Yes
• B) No

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Definitions:

Minimum Efficient Scale

The smallest level of production at which a firm can achieve the lowest long-term average cost, allowing it to be competitively viable.

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Third Industrial Revolution

The period characterized by the digital revolution and the use of electronics and information technology to automate production.

Law of Diminishing Returns

A principle stating that as one factor of production is increased while others are held constant, there comes a point at which the marginal gain in output begins to decrease.