Use the graph to answer the question Between points C and D, the long-run average total cost curve is characterized by ________ because the firm is experiencing ________ returns to scale.   A-constant returns; constant B-economies of scale; increasing C-economies of scale; constant D-diseconomies of scale; increasing E-diseconomies of scale; decreasing

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Short-Run Costs and Long-Run Costs

Cost of short-run and the long-run is an economic term that describes the cost involved in the production of goods in a firm in the short as well as long period.