The term __________________ describes a situation where the quantity of output rises, but the average cost of production falls.
A) diminishing marginal returns
B) marginal cost output
C) economies of scale
D) diseconomies of scale
Correct Answer:
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Q6: In order to reduce the harmful affects
Q7: _ is calculated by taking the quantity
Q8: _ occur when the marginal gain in
Q9: In the US economy, nearly half of
Q10: In microeconomics, the term _ is synonymous
Q12: _ arises where many firms are competing
Q13: In microeconomics, the term _ is synonymous
Q14: _ include all of the costs of
Q15: A firm's _ consist of expenditures that
Q16: The _ of all firms can be
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