Exhibit 7-16 Long-Run Average Cost Curves

question 78

Multiple Choice

Exhibit 7-16 Long-run average cost curves

Which firm in Exhibit 7-16 displays a long-run average cost curve with economies of scale throughout the range of output shown?

• A) Firm A.
• B) Firm B.
• C) Firm C.
• D) Firms A and B.

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