If the Minimum Points of All the Possible Short-Run Average

question 62

Multiple Choice

If the minimum points of all the possible short-run average total cost curves become successively lower as quantity of output increases, then:

• A) the firm should try to produce less output.
• B) total fixed costs are constant along the LRAC curve.
• C) there are economies of scale.
• D) when output is doubled, total costs are doubled.

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Definitions:

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