=+e. The production process for the firm has decreasing returns to scale throughout, but, before ever producing
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=+e. The production process for the firm has decreasing returns to scale throughout, but, before ever producing the first unit of output, the firm incurs annually a fixed cost FC (such as a large license fee) that must be paid if production is to occur.
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Related Book For 
Microeconomics An Intuitive Approach With Calculus
ISBN: 9781337335652,9781337027632
2nd Edition
Authors: Thomas Nechyba
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