You would expect that your firm is experiencing increasing returns to scale if Long run average costs increase with output Long run average costs decrease with output Long run average costs are constant with respect to output Long run fixed costs exhibit increasing returns None of the other answer choices is correct.
You would expect that your firm is experiencing increasing returns to scale if Long run average costs increase with output Long run average costs decrease with output Long run average costs are constant with respect to output Long run fixed costs exhibit increasing returns None of the other answer choices is correct.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
Section12.4: Costs In The Short Run And In The Long Run
Problem 4QQ
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