Which of the Following Statements Is Not Correct

question 57

Multiple Choice

Which of the following statements is not correct?

• A)In the long run, there are no fixed costs.
• B)Marginal cost is independent of fixed costs.
• C)Economies of scale is a short-run concept.
• D)Diminishing marginal product explains increasing marginal cost.

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Definitions:

Genetically Engineered

Refers to organisms whose genetic material has been altered using genetic engineering techniques, often involving the insertion or modification of genes.

Insulin

A hormone secreted by the pancreas that lowers blood glucose concentration.

Genetically Engineered

Refers to organisms whose genetic material has been artificially manipulated in a laboratory through genetic engineering techniques, often to express desired traits.

UV Radiation

Electromagnetic radiation with a wavelength shorter than that of visible light but longer than X-rays, capable of causing chemical reactions and damaging living tissues.