Graph 13-4 This Graph Depicts Average Total Cost Functions for Functions

question 26

Multiple Choice

Graph 13-4
This graph depicts average total cost functions for a firm that produces automobiles. Use the graph to answer the following question(s) .
-Refer to Graph 13-4. At levels of output below point M, the firm experiences:

• A) economies of scale
• B) accounting profit
• C) economic profit
• D) diseconomies of scale