In the Long Run a Company That Produces and Sells

question 555

Multiple Choice

In the long run a company that produces and sells kayaks incurs total costs of $15,000 when output is 30 kayaks and $20,000 when output is 40 kayaks. The kayak company exhibits

• A)diseconomies of scale because total cost is rising as output rises.
• B)constant returns to scale because average total cost is constant as output rises.
• C)diseconomies of scale because average total cost is rising as output rises.
• D)economies of scale because average total cost is falling as output rises.

Recognize the value and method of naturalistic observation in psychological studies.

Identify the significance and methodology of case studies in understanding individual or unique phenomena.

Analyze the impact of observer effects and biases on research outcomes.

Determine the applicability and limitations of different research methods.

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Definitions:

Waist-to-Hip Ratio

A measurement that compares the circumference of the waist to that of the hips to assess body fat distribution and potential health risks.

Income

The amount of money received by an individual or group over a certain period, typically earned through work, investments, or other sources.

Attractiveness

The property of having qualities that are appealing or pleasing in appearance or other traits.

Burdened

Feeling overwhelmed or heavily weighed down by responsibilities, problems, or difficulties.