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Author Question: The long-run average cost (LRAC) curve for a firm shows (Read 39 times)

booty5

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on: Oct 12, 2022

Question 1

Which of the following are likely to be sources of increasing productivity?
1. substitution toward labour and away from capital (with constant technology)
2. better-trained labour
3. increases in technological know-how
◦ 1 only
◦ 2 only
◦ 3 only
◦ 1 and 2 only
◦ 2 and 3 only

Question 2

The long-run average cost (LRAC) curve for a firm shows
◦ what happens to the fixed costs in the long run.
◦ the highest unit costs of producing a given output.
◦ the lowest unit cost at which the firm can produce a given output.
◦ the same cost and output levels as the short-run average cost curve.
◦ the operation of the law of diminishing returns.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by booty5 on Oct 12, 2022

xinyifff

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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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booty5

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Reply 2 on: Oct 12, 2022
YES! Correct, THANKS for helping me on my review

rachel

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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