If the total cost curve gets flatter as output increases (reaching the top of the hill), the firm is experiencing... Group of answer choices economies of scale. diminishing marginal product. increasing marginal product. decreasing total costs.
If the total cost curve gets flatter as output increases (reaching the top of the hill), the firm is experiencing... Group of answer choices economies of scale. diminishing marginal product. increasing marginal product. decreasing total costs.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
Section: Chapter Questions
Problem 3CQQ
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Question 1
If the total cost curve gets flatter as output increases (reaching the top of the hill), the firm is experiencing...
Group of answer choices
economies of scale.
diminishing marginal product.
increasing marginal product.
decreasing total costs.
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