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Basic Question 2 of 7
Constant returns to scale ______
B. refers to the downward-sloping portion of the long-run ATC curve.
C. means long-run average total costs do not change with an increase in output.
A. refers to the upward-sloping portion of the long-run ATC curve.
B. refers to the downward-sloping portion of the long-run ATC curve.
C. means long-run average total costs do not change with an increase in output.
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Learning Outcome Statements
determine and interpret break even and shutdown points of production, as well as how economies and diseconomies of scale affect costs under perfect and imperfect competition
CFA® 2025 Level I Curriculum, Volume 1, Module 1.