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Suppose afirm is producing in the long run. Whenit produces 4,000 units of output, itstotal cost is $8,000. Whenit produces 4,100 units of output, itstotal
Suppose afirm is producing in the long run. Whenit produces 4,000 units of output, itstotal cost is $8,000. Whenit produces 4,100 units of output, itstotal cost is $8,200, and whenit produces 4,200 units of output, its total cost is $8,400.
This firm is experiencing (Click to select) returns to scale.
- constant
- decreasing
- increasing
- increasing then decreasing
- decreasing then increasing
Please explain
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