If all factors are variable in the long run,firms will experience

Economics

JAMB 2012

A. decreasing returns to scale
B. increasing returns to scale
C. diminishing returns
D. economies of scale

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Correct Answer: Option B

Explanation

In the longrun, all production factors are variable (changes) and a firm operating in the longrun would enjoy increasing returns to scale because they will be operating at a higher level of output with lower cost.

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If all factors are variable in the long run,firms will experience

Correct Answer: Option B

Explanation

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