Question: If a 2 5 % increase in all inputs increases a firm s output by 1 5 % , then its long run average cost
If a increase in all inputs increases a firms output by then its long run average cost curve, LRAC, is because the firm is experiencing
Group of answer choices
upward sloping; decreasing returns to scale DRTS
upward sloping; increasing returns to scale IRTS
horizontal; constant returns to scale CRTS
downward sloping; increasing returns to scale IRTS
downward sloping; decreasing returns to scale DRTS
vertical; constant returns to scale CRTS
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