Exhibit 8-11 -Refer to Exhibit 8-11, Which Is a Long-Run Average Total

question 124

Multiple Choice

Exhibit 8-11
-Refer to Exhibit 8-11, which is a long-run average total cost (ATC) schedule. At 3 units of output, the firm's production is in

• A)decreasing marginal cost.
• B)increasing marginal product of labor.
• C)constant returns to scale.
• D)economies of scale.
• E)diseconomies of scale.

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