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mars1129 [50]
3 years ago
15

When a firm is experiencing economies of scale, long-run a. average total cost is minimized. b. average total cost is greater th

an long-run marginal cost. c. average total cost is less than long-run marginal cost. d. marginal cost is minimized.
Business
1 answer:
USPshnik [31]3 years ago
7 0

Answer:

A. Average total cost is minimized

Explanation:

Economies of scale refers to the cost advantages a firm enjoys when production becomes efficient. Economies of scale can be achieved by increasing production and and lowering cost of production.This is because cost are spread over a larger number of goods, thereby, making per unit cost cheaper.

There are two types of cost

1. Fixed cost: They are cost that doesn't change during the production process. Such as buildings, furnitures and fittings, machineries.

2. Variable cost: They are cost that changes with production process such as cost of raw materials.

When a firm is experiencing economies of scale, long-run, average total cost is minimized.

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When you have to give up one thing in order to get another this is called a <u>Tradeoff</u>.

<h3>Why do we have tradeoffs?</h3>
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Tradeoffs therefore lead to opportunity costs because we would be giving up the benefits of the alternative to the option we chose.

Find out more on tradeoffs at brainly.com/question/7072776.

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2 years ago
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3 years ago
Jones and Johnson, a law firm, is expanding to incorporate three conference rooms and two executive waiting lounges in its offic
melamori03 [73]

Answer:

Space layout and function

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2 years ago
If a new home can be constructed for $150,000, what is the opportunity cost of federal defense spending, measured in terms of pr
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4 million  houses

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The cost of constructing a new home is $150,000.  If the Federal Defence has a budget of $600 billion, the opportunity cost of spending that amount will be the equivalent number of units that can be built by the amount.

To calculate the number of units= $600 billion divided by $150,000

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