If a firm experiences constant returns to scale at all output levels, then its long-run average total cost curve would
a. slope downward.
b. be horizontal.
c. slope upward.
d. slope downward for low output levels and upward for high output levels.
b
Economics
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The market demand curve for a private good is the horizontal sum of individual consumer demand curves. In contrast, once a public good is produced, it is available to all consumers in an identical amount. Thus the market demand curve for a public good is the vertical sum of individual consumer demand curves
Indicate whether the statement is true or false
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