Economies of Scale Occur When

question 2

Multiple Choice

Economies of scale occur when

• A)a firm's long-run average total costs fall as it increases the quantity of output it produces.
• B)the marginal product of labor is greater than the average product of labor.
• C)short-run marginal cost falls.
• D)the demand for a firm's output increases.

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Definitions:

Ethnic Groups

Communities or populations that share a common cultural background, heritage, language, or religion, and are often distinguished by social, cultural, or national boundaries.

Structural Conditions

The institutional and societal systems, arrangements, and frameworks that shape individual and group behaviors and opportunities.

Multiculturalism

The co-existence of diverse cultures, where culture includes racial, religious, or cultural groups and is manifested in customary behaviors, cultural assumptions and values, patterns of thinking, and communicative styles.

Cultural Diversity

Refers to the variety of cultural or ethnic groups within a society, embracing differences in traditions, values, and ideas.