I would guess C. expansion
Both B and D are both negative that describe economic declines and a trough is a turning point in a business cycle. So, by the process of elimination, I would choose C.
Answer: (B) on the downward-sloping portion of its long-run average total cost curve.
Explanation:
The downward-sloping portion of a company's Long Run Average Total Cost(LRATC) curve is the part where increasing returns to scale is witnessed.
This is because the costs that are incurred by the company leads to higher proportional output thereby reducing the average cost and pulling the LRATC down.
In this scenario, the inputs doubled and the firm's level of production more than doubled which means that with outputs increasing more than costs, the Average cost is reducing and the slope is downward sloping.
Answer:
the Swiss Chalet had higher occupancy than its competitive set in 2019
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