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If a firm uses a production technology that exhibits increasing returns to scale (IRTS) then its long-run average cost function must be increasing. its long-run

If a firm uses a production technology that exhibits increasing returns to scale (IRTS) then

its long-run average cost function must be increasing.

its long-run average cost function must be decreasing.

its long-run marginal cost function must be increasing.

its long-run cost function must be increasing.

its long-run average cost function might be increasing or decreasing - we need more information to say for sure.

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