Table 13-15
Consider the following table of long-run total cost for four different firms:

-Refer to Table 13-13.Which firm's long-run marginal cost decreases as output increases?
A) Firm 1
B) Firm 2
C) Firm 3
D) Firm 4

Question

Table 13-15
Consider the following table of long-run total cost for four different firms:
 
-Refer to Table 13-13.Which firm's long-run marginal cost decreases as output increases?
A) Firm 1 
B) Firm 2 
C) Firm 3 
D) Firm 4

Quizplus · Accepted Answer

Firm 2's long-run marginal cost decreases as output increases, indicating economies of scale.

Table 13-15 Consider the Following Table of Long-Run Total Cost for Four