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(Solution Library) Indicate whether each of the following statements is true or false and give the reason. (a) A firm should stop expanding output after reaching


Question: Indicate whether each of the following statements is true or false and give the reason. (a) A firm should stop expanding output after reaching diminishing returns and (b) if large and small firms operate in the same industry, we must have constant returns to scale.

**** For 13(a), please see figure (6-4) on page 233. Managerial Economics in a Global Economy 5 th Edition by Dominick Salvatore. I can scan and e-mail if necessary.

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