Ch7 HW ECON 3305.docx - Question 1 0 out of 5 points Diseconomies of scale can be caused by Selected Answer all of the above Question 2 5 out of 5

Ch7 HW ECON 3305.docx - Question 1 0 out of 5 points...

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Question 1 0 out of 5 points Diseconomies of scale can be caused by Selected Answer: all of the above. Question 2 5 out of 5 points When a firm experiences increasing returns to scale Selected Answer: its AC will decrease. Question 3 5 out of 5 points The law of diminishing returns begins first to affect a firm's short-run cost structure when Selected Answer: marginal cost begins to increase. Question 4 0 out of 5 points Which of the following statements best represents a difference between short-run and long-run cost? Selected Answer: all of the above are true. Question 5 5 out of 5 points The results of many empirical studies of short-run cost functions have shown that total costs conform to a Selected Answer: linear cost function. Question 6
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5 out of 5 points The learning curve Selected Answer: shows the decrease in unit cost as more of the same product is produced over time.
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