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

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Originally Posted by cute_panda05

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

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c.