Economics · Production and Costs
If a firm experiences constant returns to scale over a certain range of output, it implies that over this range, the long-run:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Total cost is constant
- 2Average cost is constant✓
- 3Average cost is falling
- 4Marginal cost is rising
Correct answer
Average cost is constant
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