Asked by
Kathleen Pagunuran
on Nov 04, 2024
Verified
Which of the following refers to a short run phenomenon?
A) economies of scale
B) constant returns to scale
C) diseconomies of scale
D) diminishing returns
Diminishing Returns
A principle stating that as one factor of production increases while others remain fixed, there will eventually be a decrease in the incremental output gained.
- Understand the effects of economies and diseconomies of scale on the expenses of a company.
Verified Answer
MC
Learning Objectives
- Understand the effects of economies and diseconomies of scale on the expenses of a company.