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The short-run average total cost, average variable cost, and marginal cost curves are all U-shaped b
Loraine
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The short-run average total cost, average variable cost, and marginal cost curves are all U-shaped b
The short-run average total cost, average variable cost, and marginal cost curves are all U-shaped because of
i. constant total fixed cost.
ii. increasing and then decreasing marginal returns as more labor is hired.
iii. economies and diseconomies of scale as the plant size increases.
A) only i
B) only ii
C) i and iii
D) ii and iii
E) i, ii, and iii
Textbook
Essential Foundations of Economics
Edition:
7
th
Authors:
Bade, Parkin
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Start by doing what's necessary; then do what's possible; and suddenly you are doing the impossible.
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Chimelo46
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It was nothing, thanks for updating us.
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