In an industry where the economies of scale are small, the long-run average cost curve is fairly ﬂat across all output ranges.

Name: In an industry where the economies of scale are small, the long-run average cost curve is fairly ﬂat across all output ranges.
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In industries with small economies of scale, the long-run average cost does not decrease significantly as output increases, leading to a relatively flat curve across various output levels.

In an Industry Where the Economies of Scale Are Small