Question 3 If a firm's production exhibits diseconomies of scale then which of the following is true? Its marginal cost is strictly smaller than its LRATC Its marginal cost is equal to its LRATC The firm is not maximizing profits Its marginal cost is strictly larger than its LRATC

Question 3 If a firm's production exhibits diseconomies of scale then which of the following is true? Its marginal cost is strictly smaller than its LRATC Its marginal cost is equal to its LRATC The firm is not maximizing profits Its marginal cost is strictly larger than its LRATC

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 3CQQ

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