The short-run average total cost curve gets its U-shape as a result of
A) constant returns to scale.
B) diminishing marginal returns.
C) economies of scale.
D) total fixed costs.
E) diseconomies of scale.
Correct Answer:
Verified
Q39: When diminishing returns to labor begins,
A)average total
Q40: Exhibit 8-3 Q41: Marginal product and marginal cost are not Q42: If marginal cost is at its minimum, Q43: Exhibit 8-4 Q45: Average product Q46: Increasing returns occur when Q47: When a one-unit increase in input increases Q48: Exhibit 8-4 Q49: Define average total cost, average variable cost, 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
A)total
A)is a standard unit of measure
A)marginal cost is increasing.
B)marginal
