If the LRATC curve is falling, economies of scale are present.
<h3>What is LRATC?</h3>
- A business indicator known as long-run average total cost (LRATC) shows the average cost per unit of output over a lengthy period of time when all inputs are assumed to be erratic and the production scale is flexible.
- The long-run average cost curve displays the long-run total cost of production at the lowest level of output.
- Because businesses can adjust major parts of their operations, like factories, over a lengthy period of time to attain maximum efficiency, long-term unit costs are typically lower than short-term unit costs.
- Identifying the lower boundaries of LRATC is a goal shared by investors and firm management.
- If the LRATC curve is falling, economies of scale are present.
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Answer:
the answer for the particular blank is Maximum.
Explanation:
- The efficiency of a resource specifies the maximum number of flow units per unit of time which can flow through that resource.
- when a resource produce more and more products to its maximum capacity, then we can say that it is the maximum production unit of a resource in a particular time
higher capacity shows higher production..
so, maximum capacity shows maximum production
Answer:
The correct answer is "relative prices; utility". A further explanation is provided below.
Explanation:
- The conditions of a connection or bond between variables customer demand or perhaps the proportion of such a given cost of production to the normal distribution of so many other products available throughout the marketplace.
- Individual's pleasure is usually measured by the consumption of that same goods and services.
Thus the above is the correct answer.
A co-operative skill is the understanding of how to work effectively with other people on an equal basis towards commonly held aims and objectives
Answer: Investing Activities
Explanation: The investing activities lists all of the purchases and sales of long-term fixed assets, such as equipment, building, land, and the purchase of shares.
Hope this helps.
