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10. Answer Review Questions #3 and #6, p. 194/200. 11. List & explain three economies of scale, p. 187/194. and explain the main factor causing

10. Answer Review Questions #3 and #6, p. 194/200.

11. List & explain three economies of scale, p. 187/194. and explain the main factor causing diseconomies of scale.

12. Graphically illustrate the three possible long run ATC p. 188/194. What industries would be described by each of the ATC, base of p. 189/195. Explain the reason why such curves would exist for each industry 6. Answer Review Questions #2 and #4 p. 133/150.

7. On p. 180/187, define the terms in all eight columns. Explain how each is calculated. Also, graphically illustrate AFC, AVC, ATC, and MC. describe how each curve behaves & why..

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