Assume That an Industry Requires a Very Specialized Technology That

question 123

Multiple Choice

Assume that an industry requires a very specialized technology that involves high start-up costs for new firms no matter what level of output they produce.In the long run,at low levels of output,these firms will tend to exhibit

• A)diminishing marginal returns
• B)increasing marginal returns
• C)diseconomies of scale
• D)constant returns to scale
• E)economies of scale

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