If the Long-Run Average Total Cost Curve Is Downward-Sloping, Then

question 69

True/False

If the long-run average total cost curve is downward-sloping, then the firm is experiencing decreasing returns to scale.

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Definitions:

Individual Good-Collective

The concept that individual welfare or happiness contributes to the overall good or welfare of the community or society.

Water Shortage

A situation in which the available water supply is insufficient to meet the needs of the population, often leading to serious environmental and social consequences.

Swimming Pool

A constructed basin filled with water designed for swimming, recreation, or exercise.

Social Distance

The perceived or actual level of emotional, physical, or social separation between individuals or groups.