QUESTION 13Assume the following:• A firm is experiencing economies of scale (increasing returns to scale)• The firm decides to decrease its quantity of output because of low demandWhat will happen to the long-run average total cost of the firm?a. Remain Constantb. Decreasec. Increased. This is unpredictable

Answered: Image /qna-images/answer/f58a8992-718f-4757-aaf2-97d334623a12.jpg

Answered: O c. Increase

Business

Economics

O c. Increase

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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