Round Things, Incorporated's production process exhibits constant returns to scale. Currently their long-run average cost is $20 per unit. If Round Things doubles its use of all inputs, its new long-run average total cost will be Multiple Choice $20 per unit. greater than $20 per unit but less than $40 per unit. greater than $40 per unit. less than $20 per unit.

Round Things, Incorporated's production process exhibits constant returns to scale. Currently their long-run average cost is $20 per unit. If Round Things doubles its use of all inputs, its new long-run average total cost will be Multiple Choice $20 per unit. greater than $20 per unit but less than $40 per unit. greater than $40 per unit. less than $20 per unit.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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