Characteristic of economies of scale

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Reference no: EM13732527

Which of the following is a characteristic of economies of scale?

A. The average cost remains constant as output increases

B. The average cost curve takes the form of a U-shape

C. The average cost increases as output increases

D. The average costs are cheaper when a firm produces a wider variety of goods

E. The average cost declines as output increases

Reference no: EM13732527

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