The economies-of-scale curve is a long-run average cost curve, because it allows all factors of production to change. fixed costs cannot be changed. only variable costs are allowed to change. only marginal costs are allowed to change
The economies-of-scale curve is a long-run average cost curve, because it allows all factors of production to change. fixed costs cannot be changed. only variable costs are allowed to change. only marginal costs are allowed to change
Chapter7: Proudction Costs
Section: Chapter Questions
Problem 15SQ
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Question
The economies-of-scale curve is a long-run average cost curve, because
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it allows all factors of production to change.
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fixed costs cannot be changed.
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only variable costs are allowed to change.
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only marginal costs are allowed to change
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