Match the following terms to their descriptions - Economies of scale - Constant returns to scale  - Diseconomies of scale - a curve which represents a company's ability to adjust it's methods and costs of productivity over time, optimized according to quantity produced

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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1. Match the following terms to their descriptions

- Economies of scale

- Constant returns to scale 

- Diseconomies of scale

- a curve which represents a company's ability to adjust it's methods and costs of productivity over time, optimized according to quantity produced

 

ATTACHED FILE ARE THE OPTIONS

 

[ Choose ]
v the curve portion representing decreasing costs as Q increases, due to specialization and other gains in efficiency
The curve portion that represents a shrinking business due to an economic downturn
the curve portion which represents constant cost per unit of output across a large range of quantity values
AVC
Short-run ATC
LRATC
the curve portion representing rising costs as Q increases, due to coordination problems or limited resources
The curve portion that represents a growing business due to a booming economy
MPL
Transcribed Image Text:[ Choose ] v the curve portion representing decreasing costs as Q increases, due to specialization and other gains in efficiency The curve portion that represents a shrinking business due to an economic downturn the curve portion which represents constant cost per unit of output across a large range of quantity values AVC Short-run ATC LRATC the curve portion representing rising costs as Q increases, due to coordination problems or limited resources The curve portion that represents a growing business due to a booming economy MPL
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