Question

when a firm's long run average cost curve is horizontal for a range of output, then in that range production displays​

Answer 1

Answer:

For the range of output over which the firm experiences constant returns to scale, the long-run average cost curve is horizontal. The downward-sloping region of the firm's LRAC curve is associated with economies of scale. There may be a horizontal range associated with constant returns to scale.

Explanation:

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