Question

The reasons for L-shaped long run average cost curve

Q: Answer-The reasons for L-shaped long run average cost curve is/are

The L-shape of the long-run average cost curve implies that in the beginning when output is expanded through increase in plant size and associated variable factors, cost per unit falls rapidly due to economies of scale.

is/are

A technological progress

B learning by doing

C both 'A' and 'B'

D None of the above

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The reasons for L-shaped long run average cost curve

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