explain your answers in two or three sentences. a) True or False? Short-run average total cost curves have an “U” shape because of the law of diminishing marginal returns. b) True or False? Long-run average total cost curves have an “U” shape for the same reason that short-run average total cost curves have an “U” shap
explain your answers in two or three sentences. a) True or False? Short-run average total cost curves have an “U” shape because of the law of diminishing marginal returns. b) True or False? Long-run average total cost curves have an “U” shape for the same reason that short-run average total cost curves have an “U” shap
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 4SQ
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explain your answers in two or three sentences.
a) True or False? Short-run
b) True or False? Long-run average total cost curves have an “U” shape for the same reason that short-run average total cost curves have an “U” shape.
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