Which of the Following Statements About Cost Functions Is True

question 6

Multiple Choice

Which of the following statements about cost functions is true?

• A) Variable costs will always increase in direct proportion to the quantity of output produced.
• B) The less capital equipment employed in the production process relative to labor and other inputs,the longer will be the period of time required to increase significantly the scale of operation.
• C) The shape of the firm's long-run cost function is important in decisions to expand the scale of operations.
• D) none of the above

Gain knowledge of the social responsibility of businesses towards the community.

Comprehend the relationship between law, ethics, and business practices including statutory limitations.

Distinguish between business ethics and general ethics.

Differentiate between stakeholders and shareholders and understand their roles in business decisions.

---

Definitions:

Adrenalin

Also known as epinephrine, a hormone and medication which increases heart rate, muscle strength, blood pressure, and sugar metabolism, often in response to stress.

Circadian Cycle

A natural, internal process that regulates the sleep-wake cycle and repeats roughly every 24 hours.

Cortisol

A steroid hormone produced by the adrenal glands, which plays a vital role in the body's response to stress.

Sleep-Wake Cycles

The natural, cyclic pattern of sleep and wakefulness in humans and other animals, governed by internal biological clocks and influenced by environmental factors.