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    Exam 13: Production Decisions in the Short and Long Run
  5. Question
    (Long Run) Average Cost Curves Are U-Shaped When the Production
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(Long Run) Average Cost Curves Are U-Shaped When the Production

Question 24

Question 24

True/False

(Long run) average cost curves are U-shaped when the production technology has decreasing returns to scale and the firm faces recurring fixed costs.

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