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Capital intensive firms tend to become economies of scale at a higher level of output than labor intensive firms. True False Capital is more of
Capital intensive firms tend to become economies of scale at a higher level of output than labor intensive firms.
True
False
Capital is more of a variable cost to firms, while labor is more of a fixed cost.
True
False
If a firm's total costs is derived almost completely from fixed costs, a firm can reduce its average total costs by producing larger quantities of output.
True
False
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