Multiple Choice
Economies of scale are said to exist when
A) inputs are increased by some percentage and output increases by the same percentage.
B) inputs are increased by some percentage and output increases by a lesser percentage.
C) inputs are increased by some percentage and output increases by a greater percentage.
D) the LRATC curve slopes upward.
E) none of the above
Correct Answer:
Verified
Correct Answer:
Verified
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