{"id":54497,"date":"2024-04-16T00:11:10","date_gmt":"2024-04-16T00:11:10","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=54497"},"modified":"2024-04-16T00:11:10","modified_gmt":"2024-04-16T00:11:10","slug":"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","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/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\/","title":{"rendered":"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."},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a9751460e972\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"false\">\r\n                    Both A and R are true and R is the correct explanation of A                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"true\">\r\n                    Both A and R are true, but R is not a correct explanation of A                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"false\">\r\n                    A is true, but R is false                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    A is false, but R is true                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is: <strong>Both A and R <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> are true, but R is not a correct explanation of A<\/strong>.<\/p>\n<p>The long run cost curve is L-shaped because, in the long run, all costs are variable. This means that firms can choose the size of their plants and the technology they use to produce their goods. As a result, firms can always produce at the lowest possible cost per unit of output.<\/p>\n<p>The new techniques of production of large plants do reduce the total costs per unit of output. However, this is not the reason why the long run cost curve is L-shaped. The long run cost curve is L-shaped because, in the long run, all costs are variable.<\/p>\n<p>Here is a more detailed explanation of each option:<\/p>\n<ul>\n<li><strong>Both <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div> A and R are true and R is the correct explanation of A<\/strong>. This is not the correct answer because, as explained above, the new techniques of production of large plants do not explain why the long run cost curve is L-shaped.<\/li>\n<li><strong>Both A and R are true, but R is not a correct explanation of A<\/strong>. This is the correct answer because, as explained above, the new techniques of production of large plants do reduce the total costs per unit of output, but this is not the reason why the long run cost curve is L-shaped.<\/li>\n<li><strong>A is true, but R is false<\/strong>. This is not the correct answer because, as explained above, the new techniques of production of large plants do reduce the total costs per unit of output.<\/li>\n<li><strong>A is false, but R is true<\/strong>. This is not the correct answer because, as explained above, the long run cost curve is L-shaped, and the new techniques of production of large plants do reduce the total costs per unit of output.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Join Our Telegram Channel Subscribe on YouTube<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>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.<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/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\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"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.\" \/>\n<meta property=\"og:description\" content=\"Subscribe on YouTube\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/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\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-16T00:11:10+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"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.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/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\/","og_locale":"en_US","og_type":"article","og_title":"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.","og_description":"Subscribe on YouTube","og_url":"https:\/\/exam.pscnotes.com\/mcq\/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\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-04-16T00:11:10+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/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\/","url":"https:\/\/exam.pscnotes.com\/mcq\/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\/","name":"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.","isPartOf":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#website"},"datePublished":"2024-04-16T00:11:10+00:00","dateModified":"2024-04-16T00:11:10+00:00","author":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209"},"breadcrumb":{"@id":"https:\/\/exam.pscnotes.com\/mcq\/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\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/exam.pscnotes.com\/mcq\/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\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/exam.pscnotes.com\/mcq\/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\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/exam.pscnotes.com\/mcq\/"},{"@type":"ListItem","position":2,"name":"mcq","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/"},{"@type":"ListItem","position":3,"name":"Economics","item":"https:\/\/exam.pscnotes.com\/mcq\/category\/mcq\/economics\/"},{"@type":"ListItem","position":4,"name":"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."}]},{"@type":"WebSite","@id":"https:\/\/exam.pscnotes.com\/mcq\/#website","url":"https:\/\/exam.pscnotes.com\/mcq\/","name":"MCQ and Quiz for Exams","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/exam.pscnotes.com\/mcq\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/5807dafeb27d2ec82344d6cbd6c3d209","name":"rawan239","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/exam.pscnotes.com\/mcq\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/d97f17072bfa490596c8f78363955d55?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d97f17072bfa490596c8f78363955d55?s=96&d=mm&r=g","caption":"rawan239"},"sameAs":["https:\/\/exam.pscnotes.com"],"url":"https:\/\/exam.pscnotes.com\/mcq\/author\/rawan239\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/54497"}],"collection":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/comments?post=54497"}],"version-history":[{"count":0,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/posts\/54497\/revisions"}],"wp:attachment":[{"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/media?parent=54497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/categories?post=54497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/exam.pscnotes.com\/mcq\/wp-json\/wp\/v2\/tags?post=54497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}