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Long run average costs fall as output (q) increases Select one: a. Constant Returns to Scale b. Diseconomy of Scale c. Economy of Scale d. Decreasing Returns to Scale e. Increasing Returns to Scale

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 28RQ: What shape of a long-run average cost curve illustrates economies of scale, constant returns to...

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Question

Lesson 8 - Costs

Question 11

Long run average costs fall as output (q)
increases
Select one:
a. Constant Returns to Scale
b. Diseconomy of Scale
c. Economy of Scale
d. Decreasing Returns to Scale
e. Increasing Returns to Scale

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