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Author Question: The shape of the long-run average cost curve reflects a. market demand b. economies and ... (Read 141 times)

SGallaher96

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on: Jun 30, 2018
The shape of the long-run average cost curve reflects
 a. market demand
  b. economies and diseconomies of scale
  c. increasing and diminishing marginal returns
  d. productivity of fixed inputs
  e. all of the above

Question 2

Empirical studies of production suggest that the long-run average cost curve
 a. is U-shaped
  b. has an inverted L shape
  c. is L-shaped
  d. is horizontal
  e. shows diminishing marginal returns


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aadams68

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

A


SGallaher96

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  • Posts: 509
Reply 2 on: Jun 30, 2018
Great answer, keep it coming :)

Chelseyj.hasty

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  • Posts: 319
Reply 3 on: Yesterday
Excellent

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