Solved

Economies of Scale in the Production of a Good Implies

Question 10

Multiple Choice

Economies of scale in the production of a good implies that:


A) the long-run average cost of production rises as the scale of operation expands.
B) the marginal cost of production falls below zero as the scale of operation contracts.
C) the long-run average cost of production falls as the scale of operation expands.
D) the long-run average cost of production remains the same as the scale of operation increases.
E) the marginal output decreases as the amount of a factor of production is incrementally increased.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions