legacymarie4628 legacymarie4628

07-01-2020
Business

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A firm doubles the quantity of all resources it employs and, as a result, output doubles. Which of the following is correct?
a. There are increasing returns to scaleb. The long-run average total cost curve is flatc. The law of diminishing returns is proven wrongd. The example is for the short run rather than the long run

Respuesta :

Karabo99 Karabo99

07-01-2020

Answer:

The long-run average total cost curve is flat

Explanation:

When the quantity of all the resources is doubled and, as a result, output doubles then the firm experiences constant returns to scale.

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