If a firm finds itself operating in Stage I, it implies that
variable inputs are extremely expensive.
it overinvested in fixed capacity.
it underinvested in fixed capacity.
fixed inputs are extremely expensive.© BrainMass Inc. brainmass.com October 9, 2019, 8:28 pm ad1c9bdddf
In Stage 1 the variable input is being used with increasing efficiency, reaching a maximum (since the ...
Examine variable input.