Constant returns to scale occur when a firm's

a. marginal costs are constant as output increases.
b. long-run average total costs are decreasing as output increases.
c. long-run average total costs are increasing as output increases.
d. long-run average total costs do not vary as output increases.

d

Economics

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The vertical axis of the aggregate demand and aggregate supply graph has the

a) output of goods. b) output of services. c) real GDP. d) the price level.

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How do capital markets fit the general tendency toward ‘globalization'?

What will be an ideal response?

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