The Figure Given Below Shows Three Short Run Average Total

question 104

Multiple Choice

The figure given below shows three Short Run Average Total Cost (SRATC) curves and the Long Run Average Total Cost (LRATC) curve of a firm.Figure 8.3

-If a company is producing at a level of output at which the long-run average-total-cost curve reaches a minimum, then the company:

• A)is experiencing economies of scale.
• B)is operating at its minimum efficient scale.
• C)is experiencing increasing returns to scale.
• D)will shut down.
• E)is experiencing diseconomies of scale.

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