Asked by
Charlotte Calvert
on Nov 04, 2024
Verified
The shape of a firm's ________ -run average cost curve depends on how costs vary with ________.
A) short; scale of operations
B) short; no fixed factor of production
C) long; scale of operations
D) long; a fixed factor of production
Scale of Operations
The size or level at which a company or plant is operating, indicating its capacity to produce goods or services.
Average Cost Curve
A graphical depiction showing the cost per unit of output at different levels of production, reflecting the variability in total cost over volume.
- Understand the distinguishing aspects of various cost curve models.
Verified Answer
JW
Learning Objectives
- Understand the distinguishing aspects of various cost curve models.