If a Firm Has Constant Returns to Scale,the Long-Run Cost

question 26

True/False

If a firm has constant returns to scale,the long-run cost curve will be downward-sloping.

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Definitions:

Service Quality

The assessment of how well a delivered service matches the customer's expectations.

Credence Properties

Attributes of a product or service that cannot be fully evaluated before purchase and often even after use, typically related to quality or ethical considerations.

Dentistry

The medical field focused on the study, diagnosis, prevention, and treatment of diseases, disorders, and conditions of the oral cavity.

Word-of-mouth Communications

A form of unpaid promotion where satisfied customers recommend products or services to others in their social or professional circles.