If the minimum points of all the possible short-run average total cost curves become successively lower as
Fantastic news! We've Found the answer you've been seeking!
Question:
If the minimum points of all the possible short-run average total cost curves become successively lower as quantity of output increases, then:
there are economies of scale
the firm should try to produce less output
when output is doubled, total costs are doubled
total fixed costs are constant
Related Book For
Posted Date: