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Author Question: The figure below shows a family of cost curves for a firm. The subscripts 1, 2, and 3 for the SRATC ... (Read 79 times)

eboni

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on: Oct 12, 2022

The figure below shows a family of cost curves for a firm. The subscripts 1, 2, and 3 for the SRATC curves refer to different plant sizes.



FIGURE 8-2

Refer to Figure 8-2. If this firm is producing at point B, then


◦ this firm is experiencing decreasing returns to scale.
◦ this firm could produce the same level of output at a lower cost with plant size 2.
◦ plant size 1 is optimal.
◦ it should employ more of its variable factors of production.
◦ this firm is producing a level of output that is efficient in the long run.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by eboni on Oct 12, 2022

JulianneMu

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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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eboni

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Reply 2 on: Oct 12, 2022
Thanks for the timely response, appreciate it

Joy Chen

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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