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Home Q & A Board Other Fields Homework Help Business Economics
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lbelcher lbelcher
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5 years ago

Question 1.

A firm's long-run average cost curve is increasing as output increases over all levels of output. As a result



▸ small firms and large firms will have identical average costs.

▸ there should be only one firm in the industry.

▸ small firms would have higher average costs of production than large firms.

▸ there should be more than one firm in the industry.

Question 2.

When an increase of a firm's scale of production leads to higher average costs per unit produced, there is an increasing return to scale.



▸ true

▸ false
Textbook 
Principles of Economics

Principles of Economics


Edition: 12th
Authors:
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NashuaNashua
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#1
Posts: 380
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5 years ago
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lbelcher Author
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5 years ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
spaghetti
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Yesterday
this is exactly what I needed
mikey3091
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2 hours ago
Good timing, thanks!
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