The long run average cost curve may initially slope downward due to
A) decreasing average fixed costs.
B) increasing marginal returns.
C) economies of scale.
D) All of the above.
Answer: economies of scale.
The long run average cost curve may initially slope downward due to
A) decreasing average fixed costs.
B) increasing marginal returns.
C) economies of scale.
D) All of the above.
Answer: economies of scale.