Which of the following is true of economies of scale? Reductions in the average total cost of producing a product as the firm expands the size of its plant (its output) in the short run only. Increases in the average total cost of producing a product as the firm expands the size of its plant (its output) in the short run only. Reductions in the average total cost of producing a product as the firm expands the size of its plant (its output) in the long run. Increases in the average total cost of producing a product as the firm expands the size of its plant (its output) in the long run.
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