When Long-Run Average Total Cost Is Constant as Output Increases,the

question 3

True/False

When long-run average total cost is constant as output increases,the firm has constant returns to scale.

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Definitions:

Product Development

The entire process of bringing a new product to the market, from idea conception to release.

Suspending Disbelief

Temporarily accepting as plausible or realistic something that is fictional or unreal, often used in storytelling or entertainment.

Dropping Constraints

The process of eliminating restrictions or limitations that hinder progress or flexibility in a project, task, or strategy.

Unrealistic States

Situations or conditions that are impractical or unlikely to be achieved, often due to being overly ambitious or disconnected from reality.