A production process exhibits economies of scale ifa the, Ask an Expert

Economics

A production process exhibits economies of scale if:

a. The total cost of production decreases as output increases

b. The marginal cost of production decreases as output increases

c. The average cost of production decreases as output increases

d. The average cost of production increases as output increases

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91423656

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