If the Long-Run Average Total Cost Curve Is Downward-Sloping, Then

question 69

True/False

If the long-run average total cost curve is downward-sloping, then the firm is experiencing decreasing returns to scale.

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Definitions:

Cause-and-Effect Relationships

The relationship in which one condition or event (cause) directly leads to another condition or event (effect).

Disadvantage

A condition or situation that makes it more difficult for someone or something to succeed or achieve a goal.

Weightlessness

The condition experienced when there is no perceivable gravitational force acting on a body, often occurring in space or during free-fall.

Circulatory Function

The role or process of circulating blood and lymph through the body, facilitated by the heart and blood vessels, to transport nutrients and remove waste.