Multiple Choice
The short-run average total cost curve gets its U-shape as a result of
A) constant returns to scale.
B) diminishing marginal returns.
C) economies of scale.
D) total fixed costs.
E) diseconomies of scale.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q145: Assume that 1 laborer produces 6 units
Q146: The minimum efficient scale of a firm
Q147: Explain the similarities and differences between consumer
Q148: When marginal cost is greater than average
Q149: Consider the following string of numbers: 20,
Q151: Average total cost equals marginal cost when<br>A)MC
Q152: A firm is at the breakeven point
Q153: In the short run,<br>A)none of the firm's
Q154: If a firm is currently producing zero
Q155: Explain why average cost is not necessarily