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Author Question: A firm scaled down its operation by reducing all inputs by 50% and experienced a more-than-50% ... (Read 56 times)

Engineer

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A firm scaled down its operation by reducing all inputs by 50% and experienced a more-than-50% decrease in output. If all input prices remain unchanged, the firm's long-run average cost exhibits:
◦ a constant long-run average cost at the current output level.
◦ economies of scale at the current output level.
◦ diseconomies of scale at the current output level.
◦ diminishing marginal returns at the current output level.


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Marked as best answer by Engineer on Jul 20, 2019

ashely1112

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