Exhibit 6-16 Long-run average cost curves 
In Exhibit 6-16, which firm's long-run average cost curve experiences constant returns to scale?
Definitions:
Cost Of Goods Manufactured
The manufacturing costs associated with the goods that were finished during the period.
Indirect Materials
Materials that are used in the production process but do not become an identifiable part of the final product.
Opportunity Cost
The value of the best alternative that is foregone by choosing a particular action or decision, important in evaluating the cost of choices.
Alternative
An option among a set of choices in decision-making scenarios.
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