A U-Shaped Long-Run Average Total Cost Curve Can Be Explained

question 150

Multiple Choice

A U-shaped long-run average total cost curve can be explained by firms increasing their size to do which of the following?
(i) take advantage of greater specialisation
(ii) avoid coordination problems
(iii) avoid fixed costs

• A)(i) and (ii)
• B)(ii) and (iii)
• C)(i) only
• D)(i), (ii) and (iii)

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Definitions:

Nurture

The process of caring for and encouraging the growth or development of someone or something.

Nature

The phenomena of the physical world collectively, including plants, animals, the landscape, and other features and products of the earth, as opposed to humans or human creations.

Small-for-Gestational-Age

A term used to describe newborns who are significantly smaller or have a lower birth weight than the typical for their gestational age.

Preterm

Referring to a baby born before completing the standard 37 weeks of gestation.