U-shaped AC curve and an L-shaped AC curve

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Reference no: EM13796701

The difference between a U-shaped AC curve and an L-shaped AC curve is that:

a. Diseconomies of scale are greater as represented by the L-shaped AC curve.

b. The Marginal Cost (MC) of production increases more rapidly beyond the minimum efficient scale point of the L-shaped AC curve as compared to the U-shaped AC curve.

c. The minimum efficient scale point indicates where economies of scale begin on the L-shaped AC curve.

d. The AC of production is flat beyond the minimum efficient scale point on the L-shaped AC curve.

e. None of the above is correct.

Reference no: EM13796701

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