Answer the following questions true (T) or false (F)
1. If a firm is experiencing diseconomies of scale, its long-run average cost curve is increasing.
2. A U-shaped long-run average cost curve implies that a firm experiences economies of scale at low levels of production and diseconomies of scale at high levels of production.
1. TRUE
2. TRUE
Economics
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Which of the following is not a composite currency?
A) The SDR B) The ECU C) The U.S. dollar D) All of the above
Economics
If the market price in a competitive market is below the minimum of average variable cost, the firm will shut down
Indicate whether the statement is true or false
Economics