-Refer to the graph above to answer this question.All of the following statements except one are correct.Which is the exception? A)AC₁,AC₂ and AC₃ are long-run average cost curves. B)The long-run average cost curve illustrates both increasing and constant returns to scale. C)Constant returns to scale exist between outputs Q₄ and Q₅. D)An increase in output from Q₁ to Q₃ could occur in plant 1. E)Both the short-run and the long run-costs are illustrated in this graph.

Question

Quizplus · Accepted Answer

The Answer of -Refer to the graph above to answer this question.All of the following statements except one are correct.Which is the exception? A)AC₁,AC₂ and AC₃ are long-run average cost curves. B)The long-run average cost curve illustrates both increasing and constant returns to scale. C)Constant returns to scale exist between outputs Q₄ and Q₅. D)An increase in output from Q₁ to Q₃ could occur in plant 1. E)Both the short-run and the long run-costs are illustrated in this graph.

-Refer to the Graph Above to Answer This Question