If a firm's production exhibits economies of scale then which of the following is true? The firm is maximizing profits Its marginal cost is strictly larger than its LRATC Its marginal cost is equal to...


If a firm's production exhibits economies of scale then which of the following is true?<br>The firm is maximizing profits<br>Its marginal cost is strictly larger than its LRATC<br>Its marginal cost is equal to its LRATC<br>Its marginal cost is strictly smaller than its LRATC<br>

Extracted text: If a firm's production exhibits economies of scale then which of the following is true? The firm is maximizing profits Its marginal cost is strictly larger than its LRATC Its marginal cost is equal to its LRATC Its marginal cost is strictly smaller than its LRATC

Jun 10, 2022
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