The diagram shows the short-run average total cost curves for five different plant sizes of a firm. The shape of each individual curve reflects
A) increasing returns, followed by diminishing returns.
B) economies of scale, followed by diseconomies of scale.
C) constant costs.
D) increasing costs, followed by decreasing costs.
Correct Answer:
Verified
Q318: If the short-run average variable cost of
Q319: If marginal cost is below average variable
Q320: Q321: In the long run, Q322: The phrase "don't cry over spilt milk" Q324: The firm's short-run marginal-cost curve is increasing Q325: The following statements about the "sunk cost
A)all costs are variable
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