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Question
When production is characterized by persistently declining long -run average costs as output increases,
A) the costs of production are greater when competition exists than when a single firm produces a good.
B) it is impossible for two firms to compete in the market.
C) the costs are lower if a single firm exists, and even if the firm is unregulated, price will still be lower with a single firm.
D) there is no need for the government to limit competition by licensing requirements.
Answer
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Related questions
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