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Anuta_ua [19.1K]
2 years ago
7

If the long-run average total cost curve for a firm is horizontal in a relevant range of production, then it indicates that ther

e
Business
1 answer:
sweet-ann [11.9K]2 years ago
5 0

If the long-run average total cost curve for a firm is horizontal in a relevant range of production, then it indicates that there (B) are constant returns to scale.

<h3>What is the long-run average total cost curve?</h3>
  • The long-run average cost (LRAC) curve depicts the firm's lowest cost per unit at each output level, assuming that all production parameters are changeable.
  • The LRAC curve presupposes that the firm has determined the best factor mix for creating any amount of production, as discussed in the previous section.
  • To derive the long-run total cost function, we take the expansion path's total cost and quantity pairs.
  • "When all factors of production are variable, the long-run total cost function displays the lowest total cost of generating each amount."
  • If a firm's long-run average total cost curve is horizontal in a relevant production range, it shows that there are consistent returns to scale.

As the description states, if a firm's long-run average total cost curve is horizontal in a relevant production range, it shows that there are consistent returns to scale.

Therefore, if the long-run average total cost curve for a firm is horizontal in a relevant range of production, then it indicates that there (B) are constant returns to scale.

Know more about the long-run average total cost curve here:

brainly.com/question/10205972

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Complete question:

If the long-run average total cost curve for a firm is horizontal in a relevant range of production, then it indicates that there

A. isn't a minimum efficiency scale.

B. are constant returns to scale.

C. are diseconomies of scale.

D. are economies of scale.

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Answer and Explanation:

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         To wages payable  $34,500

(to record the factory labor cost)

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Answer:

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quizlet When a borrower defaults on a mortgage, which one of the following statements does NOT apply? The property will be sold
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power of sale clause

What is borrower defaults?

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2 years ago
Macee Department Store has three departments, and it conducts advertising campaigns that benefit all departments. Advertising co
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Answer:

(i) $34,200

(ii) $55,860

(iii) $23,960

Explanation:

Total sales = $ 240,000 + $392,000 + $168,000

                  = $800,000

Department 1:

sales = $240,000

Percent of total = sales ÷ Total sales

                          = $240,000 ÷ $800,000

                          = 0.3

Allocated amount = % of total × advertising to allocate

                              = 0.3 × $114,000

                              = $34,200

Department 2:

sales = $392,000

Percent of total = sales ÷ Total sales

                          = $392,000 ÷ $800,000

                          = 0.49

Allocated amount = % of total × advertising to allocate

                              = 0.49 × $114,000

                              = $55,860

Department 3:

sales = $168,000

Percent of total = sales ÷ Total sales

                          = $168,000 ÷ $800,000

                          = 0.21

Allocated amount = % of total × advertising to allocate

                              = 0.21 × $114,000

                              = $23,940

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