If a Firm Is Experiencing Constant Returns to Scale, Then

question 3

Multiple Choice

If a firm is experiencing constant returns to scale, then the long-run average cost curve is

• A)falling.
• B)rising.
• C)horizontal.
• D)shifting

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Definitions:

Agent

One that acts or has the power or authority to act for another.

ATM

An automated teller machine, a specialized computer that allows bank customers to perform financial transactions without the need for a human cashier.

Checking Account

A bank account that allows for both deposits and withdrawals, typically used for day-to-day financial transactions.

Cashier's Check

A check issued by a bank, drawing on its own funds rather than on the account of a private individual, offering a secure means of payment.