The table shows three short-run cost schedules for three plants of different sizes that a firm might build in the long run.
What is the long-run average cost of producing 30 units of output?
A) $7
B) $8
C) $9
D) $10
Correct Answer:
Verified
Q63: Round Things, Inc.'s production process exhibits economies
Q256: Which of the following statements is true,
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
Q361: If long-run average total cost decreases as
Q363: When a firm doubles its inputs and
Q366: In the long run, a firm will
Q368: A firm encountering economies of scale over
Q374: The larger the diameter of a natural
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