-Farmer Seth Has a Perfectly Flat Long-Run Average Total Cost

question 455

Multiple Choice

-Farmer Seth has a perfectly flat long-run average total cost curve over the range of output from 10,000 bushels of wheat to 100,000 bushels of wheat. Hence, over this range of output, Farmer Seth definitely experiences

• A) constant marginal returns.
• B) constant returns to scale.
• C) constant economies of scale.
• D) none of the above.

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The lack of ability or willingness to change or adapt to new circumstances, often hindering progress or innovation.

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