In the short run average costs eventually increase because of ________, and in the long run average costs eventually increase because of ________.A.diminishing returns; diseconomies of scaleB.diseconomies of scale; diminishing returnsC.constant returns to scale; decreasing returns to scaleD.increasing returns to scale; diseconomies of scaleThe Lakeland Bakery sells 300 muffins at a price of $1 per muffin. Its explicit costs for producing 300 muffins are $250. If the bakery is earning a normal rate of return, then implicit costs must beA.$50.B.$100C.$250.D.$350
Solution ID:10086603 | Question answered on 16-Oct-2016
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