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Author Question: Which of the following statements concerning long-run and short-run cost curves is correct? (Read 78 times)

dabomba718

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on: Oct 12, 2022

Question 1

In the long run, decreasing returns to scale are likely to be caused by
◦ increasing specialization of labour.
◦ decreasing costs.
◦ a decrease in factor prices.
◦ diseconomies of scale associated with management problems.
◦ diminishing returns to the variable factor.

Question 2

Which of the following statements concerning long-run and short-run cost curves is correct?
◦ A short-run average cost curve can fall below the long-run average cost curve.
◦ Both the long-run and short-run average cost curves show the lowest cost of producing any output when all factors are variable.
◦ The short-run average cost curve for the optimal plant size is tangent to the long-run average cost curve at all levels of output of the fixed factor.
◦ The minimum point of the long-run average cost curve will correspond to the minimum point on a single short-run average cost curve.
◦ The long-run average cost curve envelops a whole family of short-run marginal cost curves.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by dabomba718 on Oct 12, 2022

AarionnaH

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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dabomba718

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Reply 2 on: Oct 12, 2022
:D TYSM

dantucker

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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