Multiple Choice
For a firm that experiences decreasing returns to scale over the entire range of output:
A) the SRMC curve is downward- sloping.
B) the LRAC curve is upward- sloping.
C) the SRMC curve is upward- sloping.
D) the SRAC curve is upward- sloping.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q69: If input prices are constant and the
Q70: Explain the relationship between the long run
Q71: Define isoquant and isocost curves. If f(L,K)=
Q72: When returns to scale are increasing, long
Q73: The Marginal Rate of Technical Substitution diminishes
Q75: When there are many inputs, a firm
Q76: When the price of a resource increases,
Q77: A change in the relative price of
Q78: In the long run a firm will
Q79: Suppose that Company X has a production