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AP Microeconomics
Unit 3 โ Production, Cost, and the Perfect Competition Model
Topic 3.3
Unit 3 โ Production, Cost, and the Perfect Competition Model
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3.3 Long-Run Production Costs
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mixed difficulty
The point where the average total cost (ATC) is at its lowest is achieved when?
The firm experiences constant returns to scale.
The firm faces diseconomies of scale.
The firm achieves economies of scale.
The firm reaches its maximum plant capacity.
Study guides (1)
AP Microeconomics - 3.3 Long-Run Production Costs
Key terms
Average Total Cost (ATC)
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Glossary
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