Explain the relationship between the long-run average cost curve and the concept of economies of scale.
Question:
Explain the relationship between the long-run average cost curve and the concept of economies of scale.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
The longrun average cost LRAC curve and the concept of economies of scale are closely related in the field of microeconomics and production theory Eco...View the full answer
Answered By
Mario Alvarez
I teach Statistics and Probability for students of my university ( Univerisity Centroamerican Jose Simeon Canas) in my free time and when students ask for me, I prepare and teach students that are in courses of Statistics and Probability. Also I teach students of the University Francisco Gavidia and Universidad of El Salvador that need help in some topics about Statistics, Probability, Math, Calculus. I love teaching Statistics and Probability! Why me?
** I have experience in Statistics and Probability topics for middle school, high school and university.
** I always want to share my knowledge with my students and have a great relationship with them.
** I have experience working with students online.
** I am very patient with my students and highly committed with them
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Which of the following is true about the long runaverage cost curve? The long run average cost curve is comprised of all the lowestpoints of each of the short run average cost curves because no...
-
A: Consider a firm whose technology has decreasing returns to scale throughout and who faces a recurring fixed cost. Denote the level of capita chosen in the long run at the lowest point of the long...
-
A: Assume that the production technology uses labor and capital k as inputs, and assume through- out this problem that the firm is currently long run profit maximizing and employing a production...
-
Choose any company from Muscat Security Market and download its recent balance sheet and income statement (Attach them to the assignment). Find and interpret the result of the following ratios: a....
-
Can economic analysis provide a final answer to the question of whether the government should intervene in markets by imposing price ceilings and price floors? Briefly explain.
-
Aangi sends Anil a purchase order stating that only her terms apply and that in the event of a dispute between the parties in connection with the transaction, the dispute will be submitted to...
-
What System Elements comprise a systems Physical Environment domain?
-
Revenue recognition at time of sale. Marks and Spencer Group. Plc., a U.K. retailer, applies IFRS and reports its results in millions of pounds sterling (). The notes to its financial statements for...
-
Sketch a cumulative flow diagram that represents the growth and dissipation of a rush hour period at a toll bridge with time-independent capacity. 1) Identify on the diagram: the arrival curve A(t),...
-
Briefly explain why a firm in a perfectly competitive market would generally face a horizontal demand curve. What implications do you think this has for the price of its product?
-
Do you think diseconomies of scale are possible? What would it mean for a firm? Briefly explain your answer by mentioning a real-life example.
-
Use properties of the Fourier transform in the following problems. (a) Use the Fourier transform of cos(kΩ 0 t)to find the Fourier transform of a periodic signal x(t) with a Fourier...
-
What is the meaning of the term genetic material?
-
Certain forms of human color blindness are inherited as X-linked recessive traits. Hemizygous males are color blind, but heterozygous females are not. However, heterozygous females sometimes have...
-
Describe the unique features of ascomycetes that facilitate genetic analysis of these fungi.
-
What is the role of the origin of transfer during conjugation involving F+ and Hfr strains? What is the significance of the direction of transfer in Hfr conjugation?
-
Do you consider TEs to be mutagens? In other words, do TEs cause mutations? Explain.
-
You now expect three bidders to show up. What reserve price should you set, and what is your expected revenue from auctioning the item with a reserve price?
-
To balance the chemical equation SiH3 + O2 SiO2 + HO, you could introduce coefficients a, b, c, d and write aSiH3 + bO2 cSiO + dHO then write linear equations for each element. The equation for Si...
-
The federal budget for national defense has increased substantially to pay for the Iraq war. How would GDP in the United States have been affected if this higher defense spending led to? a. larger...
-
The federal budget for national defense has increased substantially to pay for the Iraq war. How would GDP in the United States have been affected if this higher defense spending led to? a. larger...
-
Explain why G has the same multiplier as I, but taxes have a different multiplier.
-
1)What was the impact of feminism on the workplace, education, reproductive rights and sexuality? 2)How did women of color challenge, contribute and participate in the women's movement of the 1960's...
-
In order to complete this test, you are tasked with drafting an essay that attempts to examine how leadership and performance measurement are intertwined within a current public sector problem. You...
-
Locate a quote about leadership and post it. As you consider the quote, explain what is appealing about this quote and/or the person who is quoted. Does the quote validate or contradict a principle...
Study smarter with the SolutionInn App