Plant sizes get larger as you move from ATC-1 to ATC-4.
Which plant size would produce at the least cost for the 3,000-4,000 range of output?
A) 1
B) 2
C) 3
D) 4
Correct Answer:
Verified
Q261: The law of diminishing returns implies that
A)
Q264: The following table shows the short-run total
Q266: If there are 10 plants producing the
Q268: Plant sizes get larger as you move
Q329: When average variable cost is at a
Q361: If long-run average total cost decreases as
Q374: The larger the diameter of a natural
Q385: When a firm is experiencing diseconomies of
Q393: A natural monopoly is characterized by
A)collusion with
Q394: The ability of Intel to spread product
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents