At the current level of output, long-run marginal cost is $50 and long-run average cost is $75. This implies that:
A) there are neither economies nor diseconomies of scale.
B) there are economies of scale.
C) there are diseconomies of scale.
D) the cost-output elasticity is greater than one.
Correct Answer:
Verified
Q78: With its current levels of input use,
Q79: A firm wants to minimize the total
Q80: An effluent fee is imposed on a
Q81: If two different fuel sources (e.g., coal
Q82: Q84: Suppose our firm produces chartered business flights Q85: Suppose our firm produces chartered business flights
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