## Question

###### The following graph shows short-run marginal cost curves, short-run average cost curves, and a long-run average...

The following graph shows short-run marginal cost curves, short-run average cost curves, and a long-run average total cost curve for a firm. Cost Curves 11 10 - 9 LRATC SRATC SRMC SRATC SRMC Per unit costs SRATO SRMC . 10 10 Quantity

Which cost curves represent an efficient firm producing where there are diseconomies of scale? (Click to select) | Which cost curves represent an efficient firm producing where there are economies of scale? (Click to select) Which cost curves represent an efficient firm producing where there are constant returns to scale? (Click to select) MacBook Air

## Answers

Diseconomies of scale: SRMC3

LRATC is risingEconomies of scale: SRMC1

LRATC is fallingConstant returns to scale: SRMC2

LRATC is constant

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