If long run average costs fall with output, you have
a. Increasing returns to scale
b. Decreasing returns to scale
c. Constant returns to scale
d. None of the above
a
Economics
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China's exchange rate system from 1994 through 2005 is an example of
A) a flexible exchange rate system. B) a fixed exchange rate system. C) a managed float exchange rate system. D) the Bretton Woods System. E) a floating exchange rate system.
Economics
Is it possible for average total cost to be decreasing over a range of output where marginal cost is increasing? Briefly explain
What will be an ideal response?
Economics