ECO 2023: Principles of Microeconomics Questionnaire Costs in the Long Run

Requirements 1. When it comes to the long run, what is the reason why average costs tend to increase? Explain. 2. When it comes to the short run, what is the reason why average costs tend to increase? Explain. 3. When the firm is producing in the long run, what is the variable that most influences the selection of the appropriate size of the plant? Explain.