For a constant returns to scale production function: a. both average and marginal costs are constant. b. marginal cost has

For a constant returns to scale production function: a. both average and marginal costs are constant. b. marginal cost has a U-shape; average costs are constant. c. both average and marginal cost curves are U-shaped. d. marginal costs are constant but the average cost curve has a U-shape.

Leave a Reply

Your email address will not be published. Required fields are marked *