If a production function exhibits increasing returns to scale, the LTC curve increases at a(n)_ rate and the LMC and LAC curves are linear and _ sloped.
a. decreasing; positively
b. increasing; negatively
c. decreasing; negatively

Question

05-06-2024
Business

Answered

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If a production function exhibits increasing returns to scale, the LTC curve increases at a(n)_ rate and the LMC and LAC curves are linear and _ sloped.
a. decreasing; positively
b. increasing; negatively
c. decreasing; negatively

Sagot :

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If a production function exhibits increasing returns to scale, the LTC curve increases at a(n)_________ rate and the LMC and LAC curves are linear and _________ sloped.a. decreasing; positivelyb. increasing; negativelyc. decreasing; negatively

Sagot :

Other Questions

If a production function exhibits increasing returns to scale, the LTC curve increases at a(n)_ rate and the LMC and LAC curves are linear and _ sloped.
a. decreasing; positively
b. increasing; negatively
c. decreasing; negatively