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What Accounts For The ‘U-shaped’ Of The Short-run Average Cost (AC) Curve? - Erudites Academy
Economics WAEC

What accounts for the ‘U-shaped’ of the short-run average cost (AC) curve?

A. the law of variable proportions
B. increasing returns to scale
C. decreasing use of inputs
D. change output during the production period

Correct Answer: Option A

A. the law of variable proportions

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