Q1341
Assertion (A): The long run cost curve is L-shaped rather than U-shaped. Reason (R): The new techniques of production of large plants reduce the total costs per unit of output.
A.
Both A and R are true and R is the correct explanation of A
AnswerB.
Both A and R are true, but R is not a correct explanation of A
C.
A is true, but R is false
D.
A is false, but R is true
Answer: Option A
Solution
Answer: Option A
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