In the long run, higher volume production is always more cost efficient production

a) always true-because economies of scale can be achieved
b) true when economies of scale are achievable, not true if diseconomies of scale are likely
c) always false-the law of diminishing marginal returns tells us that
d) false when the law of diminishing marginal return sets in, true prior to that

in the long run, higher volume production is always more cost efficient production

a) always true-because economies of scale can be achieved
b) true when economies of scale are achievable, not true if diseconomies of scale are likely
c) always false-the law of diminishing marginal returns tells us that
d) false when the law of diminishing marginal return sets in, true prior to that

c.