8.33. A railroad provides passenger and freight service. The table shows the long-run total annual costs TC(F,

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8.33. A railroad provides passenger and freight service.

The table shows the long-run total annual costs TC(F, P), where P measures the volume of passenger traffic and F the volume of freight traffic. For example, TC(10,300) ! 1,000.

Determine whether there are economies of scope for a railroad producing F ! 10 and P ! 300. Briefly explain.

TC(Q1, Q2) ! e 0, if Q1 ! 0 and Q2 ! 0 1000 " 2Q1 " 3Q2, otherwise

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Microeconomics

ISBN: 9780470563588

4th Edition

Authors: David Besanko, Ronald Braeutigam

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Question Posted: Oct 15, 2024 03:02 AM

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8.33. A railroad provides passenger and freight service. The table shows the long-run total annual costs TC(F,

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Microeconomics

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