Indicate whether each of the following statements are true or false and give the reason. (a) A
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(a) A firm should stop expanding output after reaching diminishing returns
(b) If large and small firms operate in the same industry, we must have constant returns to scale.
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a NO Once diminishing returns are reached iy means that for every addition to l...View the full answer
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Related Book For
Managerial Economics
ISBN: 978-0133020267
7th edition
Authors: Paul Keat, Philip K Young, Steve Erfle
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