The figure below shows short-run average total cost curves for a firm under four different production technologies. Assume that there are only four different technologies that the firm could use.
-Refer to the figure above.Between the output quantity QA and QC,the long-run average total cost curve of the firm exhibits ________.
Definitions:
Existential Generalization
A logical inference rule that allows for the conclusion that something exists based on the existence of a particular instance.
Quantifier Negation
The act of negating the quantifier in a logical statement, which changes the scope or range of the statement.
Universal Generalization
A conclusion drawn about all things in a certain category, based on observations or evidence from some members of that category.
Existential Instantiation
A logical rule inferring the existence of at least one instance of a predicate; used in proofs to show something exists.
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