Long-run average total cost rises as the level of output increases because of:
A) economies of scale.
B) the Law of Diminishing Returns.
C) the direct relationship between price and quantity supplied.
D) the increasing difficulty of maintaining control of an organization as the level of output grows.
Correct Answer:
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Q161: The average total cost when four units
Q162: A cost that, when graphed, decreases to
Q163: The Law of Diminishing Returns applies to
Q164: If the long-run total cost of producing
Q165: If long-run average total cost is greater
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