Question:
A firm encountering economies of scale over some range of output will have a:
A. Rising long-run average cost curve. B. Falling long-run average cost curve. C. Constant long-run average cost curve. D. Rising, then falling, then rising long-run average cost curve. Answer» b. Falling long-run average cost curve.| Note: | The above multiple-choice question is for all general and Competitive Exams in India. |