Economics · Microeconomics
Economies of scale occur when:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Long-run fixed cos ts stay constant as output increases
- 2Long-run average total cost does not vary with the level of output
- 3Long-run average total cost rises as output increases
- 4Long-run average total cost declines as output increases✓
Correct answer
Long-run average total cost declines as output increases
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