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2 weeks ago
Firms that produce an information product experience short-run economies of operation because

• of the U-shaped nature of the average total cost curve.

• the average total cost of producing and selling the product declines as output increases.

• the firm will always produce in the decreasing portion of the marginal cost curve.

• of the U-shaped nature of the average variable cost curve.
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Economics Today: The Micro View
Edition: 19th
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wrote...
2 weeks ago
the average total cost of producing and selling the product declines as output increases.
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