(g) If there are increasing returns to scale and pecuniary diseconomies, then the slope of the long run average cost curve can be upward or downward sloping. AC Qty. K (h) The greater the extent to which two factors are substitutable, the lesser the convexity of the isoquant. True or false L True or false

(g) If there are increasing returns to scale and pecuniary diseconomies, then the slope of the long run average cost curve can be upward or downward sloping. AC Qty. K (h) The greater the extent to which two factors are substitutable, the lesser the convexity of the isoquant. True or false L True or false

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 15SQ

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