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What accounts for the ‘U-shaped’ of the short run average cost (AC) curve?
Classroom
Economics Classroom
Waec
Waec 2009
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What accounts for the ‘U-shaped’ of the short run average cost (AC) curve?
SchoolNGR Classroom
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
A
The law of variable proportions
B
Increasing returns to scale
C
Decreasing use of inputs
D
Change output during the production period
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Show Explanation
Correct Answer:
Option A
Explanation:
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