The Long-Run Average Cost Curve Is U-Shaped Because of Which

question 116

Multiple Choice

The long-run average cost curve is U-shaped because of which of the following?

• A) decreasing marginal returns as more labor is hired
• B) constant fixed costs as output is increased
• C) economies and diseconomies of scale
• D) increasing marginal returns as more labor is hired
• E) decreasing average fixed costs as output is increased

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