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What happens when the output elasticity of total cost is less than one?

What happens when the output elasticity of total cost is less than one?<br/>

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Asked by Twright, Last updated: Dec 04, 2024

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John Smith

John Smith

John Smith
John Smith

Answered Mar 18, 2017

A. Marginal cost is less than average cost and average cost decreases as Q increases.
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