These occur when doubling all of the inputs to a production process doubles the output. The shape of a firm's long-run average cost curve depends both on returns inputs scale in production and the effect of scale on the prices it pays for its O Decreasing returns to scale in production O Constrained optimisation problem Constant returns to scale in production O Decreasing returns to scale
These occur when doubling all of the inputs to a production process doubles the output. The shape of a firm's long-run average cost curve depends both on returns inputs scale in production and the effect of scale on the prices it pays for its O Decreasing returns to scale in production O Constrained optimisation problem Constant returns to scale in production O Decreasing returns to scale
Chapter1: Making Economics Decisions
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![These occur when doubling all of the inputs to a production process doubles the output. The shape of a firm's long-run average cost curve depends both on returns to scale in production and the effect of scale on the prices it pays for its
inputs.
O Decreasing returns to scale in production
O Constrained optimisation problem
O Constant returns to scale in production
O Decreasing returns to scale](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F64eab56b-64ab-49e5-9a96-0673990b528e%2F985cf4a9-1c15-467c-a7d4-9ee57e04c973%2Fnjdfgf_processed.jpeg&w=3840&q=75)
Transcribed Image Text:These occur when doubling all of the inputs to a production process doubles the output. The shape of a firm's long-run average cost curve depends both on returns to scale in production and the effect of scale on the prices it pays for its
inputs.
O Decreasing returns to scale in production
O Constrained optimisation problem
O Constant returns to scale in production
O Decreasing returns to scale
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