2
answers
0
watching
329
views
23 Jun 2018
39. Which of the following statements about the long run average cost curve (LRAC) would generally be true? 1) When the LRAC is falling, the production firm is experiencing economies of scale. II) The LRAC forms an envelope underneath all the possible short run average cost curves III) The LRAC shifts upwards as industry output increases if the industry is an increasing cost industry. (A) none (B) I only (C) II only (D) III only (E) I and II (F) I and III (G) II and III (H) I, II and III
39. Which of the following statements about the long run average cost curve (LRAC) would generally be true? 1) When the LRAC is falling, the production firm is experiencing economies of scale. II) The LRAC forms an envelope underneath all the possible short run average cost curves III) The LRAC shifts upwards as industry output increases if the industry is an increasing cost industry. (A) none (B) I only (C) II only (D) III only (E) I and II (F) I and III (G) II and III (H) I, II and III
christopherc63Lv10
24 Oct 2022
Jamar FerryLv2
25 Jun 2018
Already have an account? Log in