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
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
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa42275a6-cc04-4f78-95fc-08ea6dcabfe8%2F7d7c8549-d146-4b25-a09c-d1e72e094ff9%2Fdj79g5w_processed.png&w=3840&q=75)
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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