Question
Which of the following is an inverted ‘U’ shaped curve ?
Answer: Option B
Answer: (b)
In economics, a cost curve is a graph of the costs of production as a function of the total quantity produced. Both the Short-run average total cost curve (SRAC) and Long-run average cost curve (LRAC) curves are typically expressed as U-shaped.
However, the shapes of the curves are not due to the same factors.
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Answer: (b)
In economics, a cost curve is a graph of the costs of production as a function of the total quantity produced. Both the Short-run average total cost curve (SRAC) and Long-run average cost curve (LRAC) curves are typically expressed as U-shaped.
However, the shapes of the curves are not due to the same factors.
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