For any given output level, a firm's long-run costs

a. are always greater than or equal to its short-run costs.
b. are usually greater than or equal to its short-run costs except in the case of diminishing returns to scale.
c. are always less than or equal to its short-run costs.
d. are usually less than or equal to its short-run costs except in the case of diminishing returns to scale.

c

Economics

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A tariff is a tax restriction on imported goods.

a. true b. false

Economics

The "paired observation" of (-14, -6 ) means

A) x = -14, y = -6 B) x = -6, y = -14 C) that the distance between the two points will be 8. D) the origin is at -14 and -6.

Economics