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Posts: 167
2 months ago
Which of the following is NOT true when there are large economies of scale such that one firm can produce at a lower average cost than can be achieved by multiple firms?

• The long-run average cost curve of the firm will increase at a low level of output.

• This situation produces a natural monopoly.

• There will only be one firm in this industry.

• Proportional increases in output yield proportionally small increases in total cost.
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Economics Today: The Micro View
Edition: 19th
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wrote...
2 months ago
The long-run average cost curve of the firm will increase at a low level of output.
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