If the minimum points of all the possible short-run average total cost curves become successively lower as quantity of output increases, then:
a. the firm should try to produce less output.
b. total fixed costs are constant along the LRAC curve.
c. there are economies of scale.
d. the firm is probably having significant management problems.
e. when output is doubled, total costs are doubled
This question was answered on: May 23, 2022
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