pling Use the long-run average total cost (LRATC) curve below to answer the 3 mu

Question

pling Use the long-run average total cost (LRATC) curve below to answer the 3 multiple choice questions. 10 As the firm moves from Point A toward Point B, they are experiencing O constant returns to scale. O diseconomies of scale. O economies of scale. Long Run Average Total Costs As the firm moves from Point B toward Point C, they are experiencing O constant returns to scale. O diseconomies of scale. O economies of scale As the firm moves from Point C toward Point D, they are experiencing O constant returns to scale. 1 3 5 6 7 8 9 10 Output O diseconomies of scale O economies of scale

Explanation / Answer

Use the long-run total cost (LRAC) curve below to answer the multiple choice questions:

# As the firm moves from Point A toward Point B, they are experiencing:

* Economies of scale.

# As the firm moves from Point B toward Point C, they are experiencing:

* Constant returns to scale.

# As firm moves from Point C toward Point D,they are experiencing:

* Diseconomies of scale.

*****

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