Long run marginal cost curves are increasing for decreasing returns to scale production technologies.
Answer the following statement true (T) or false (F)
True
Rationale: Decreasing returns to scale means it is getting harder and harder to produce more -- implying that each additional unit is costing more and more to produce.
Economics
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What will be an ideal response?
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When does the burden of a tax imposed on a good fall more heavily on sellers?
What will be an ideal response?
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