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Basic Question 5 of 7
A firm exhibits economies of scale ______.
B. along the increasing portion of the long-run average cost curve (LRAC)
C. exactly where LRAC reaches its minimum point
D. anywhere along the LRAC, as long as increasing the scale of operations does not affect cost per unit
A. along the decreasing portion of the long-run average cost curve (LRAC)
B. along the increasing portion of the long-run average cost curve (LRAC)
C. exactly where LRAC reaches its minimum point
D. anywhere along the LRAC, as long as increasing the scale of operations does not affect cost per unit
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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.