The principal determinants of total and average cost curves are the firm's technology and the prices of its inputs.

Question

Quizplus · Accepted Answer

The firm's technology and the prices of its inputs have a direct impact on its total and average cost curves. Other factors such as market structure, production scale, and government policies can also affect cost curves, but the primary drivers are technology and input prices.

The Principal Determinants of Total and Average Cost Curves Are