Multiple Choice
Related to the Economics in Practice on page 195: If firms have long-run average cost curves with a long, flat section
A) their long run supply curves are downward sloping.
B) the optimal number of firms in the industry is one.
C) larger firms have a cost advantage over smaller firms.
D) it is impossible to predict the size of the firm.
Correct Answer:
Verified
Correct Answer:
Verified
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