Multiple Choice
Suppose a firm experiences decreasing returns to scale. This is shown graphically by
A) a downward- sloping long- run marginal- cost curve.
B) a downward- sloping long- run average cost curve.
C) a horizontal long- run average cost curve.
D) an upward- sloping long- run average cost curve.
E) an increasing marginal product curve.
Correct Answer:
Verified
Correct Answer:
Verified
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