What is a production set?[br][br][b][color=black]Question ...

[olgavictoria]

What is a production set?

Question 2

When a firm expands in size such that its workers can specialize in any one activity, the long-run average total cost of the firm gradually increases.
 a. True
  b. False
  Indicate whether the statement is true or false

[moormoney]

Answer to Question 1

A production set is all possible combinations of goods and services that an economy can produce with its available resources.

Answer to Question 2

False

[olgavictoria]

Thanks for the timely response, appreciate it

[bbburns21]

Gracias!