Economics · Business Economics
A U-shaped long-run average cost curve is based on the assumptions that: A. Economies of scale prevail at small levels of output B. Diseconomies of scale prevail at larger levels of output C. Benefits of the division of labour and specialisation accrue more at the lower scale of production D. Managerial inefficiencies are prone to a higher scale of operations Choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A, B, C and D✓
- 2A, C, and D only
- 3B, C and D only
- 4A, B and C only
Correct answer
A, B, C and D
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