If the Generic Production Function Q = F (K,L)displays Increasing

question 28

Multiple Choice

If the generic production function Q = f (K,L) displays increasing returns to scale,the value of K is fixed in the short run,and the prices of all inputs are held constant,then

• A)the short-run average cost curve must be strictly decreasing.
• B)the long-run average cost curve must be strictly decreasing.
• C)the short-run and the long-run average cost curves will coincide.
• D)the long-run average cost curve must be strictly increasing.

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