Long-run average cost curve falls due to the application of:
A. The law of increasing returns to a factor
B. The law of increasing returns to scale
C. The law of variable proportions
D. The law of demanD.
Answer:B
Long-run average cost curve falls due to the application of:
A. The law of increasing returns to a factor B. The law of increasing returns to scale C. The law of variable proportions D. The law of demanD.