Multiple Choice
When a firm is facing economies of scale,total costs will
A) decrease as the firm increases its output.
B) increase at a decreasing rate as the firm increases its output.
C) decrease at an increasing rate as the firm increases its output.
D) increase at an increasing rate as the firm increases its output.
E) increase proportionately to output.
Correct Answer:
Verified
Correct Answer:
Verified
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