When a firm experiences economies of scale in production, a. long-run average total cost declines as output

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When a firm experiences economies of scale in production,

a. long-run average total cost declines as output expands.

b. long-run average total cost increases as output expands.

c. marginal cost increases as output expands.

d. the marginal product of an input diminishes with increased utilization.

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Exploring Microeconomics

ISBN: 9781544339443

8th Edition

Authors: Robert L. Sexton

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Question Posted: May 19, 2024 03:02 AM

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When a firm experiences economies of scale in production, a. long-run average total cost declines as output

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Exploring Microeconomics

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