True or False: For an increase in output, average costs change by more in the short-run than in the long-run, but for a decrease in output, the opposite is true.
True or False: For an increase in output, average costs change by more in the short-run than in the long-run, but for a decrease in output, the opposite is true.
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter21: Production And Costs
Section: Chapter Questions
Problem 6QP
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True or False: For an increase in output, average costs change by more in the short-run than in the long-run, but for a decrease in output, the opposite is true.
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