Economies of scale exist when O the cost of finding a trading partner is low the firm is too large and too diversified O the firm is too small and too specialized O the long-run average cost decreases as the output increases. O a firm's decision to hire additional inputs does not result in an increase in the price of inputs

Economies of scale exist when O the cost of finding a trading partner is low the firm is too large and too diversified O the firm is too small and too specialized O the long-run average cost decreases as the output increases. O a firm's decision to hire additional inputs does not result in an increase in the price of inputs

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter2: Mathematics For Microeconomics

Section: Chapter Questions

Problem 2.2P

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