1.In terms of cost theory, why are cost curves "U - shaped", that is, saucer, or bowl-shaped?

2.Exactly what is the definition of the term "marginal cost"?The term 'Marginal Revenue'?The term 'Marginal Product'?

3.Let's say I inherit a bakery and must try to start to run it...as I hire 0 workers, then 1, then 2, then 3......what happens to the "marginal product" per loaf and the "marginal cost" per loaf?In theory, how does the change in the marginal product HELP EXPLAIN the change in the marginal cost per loaf?

4.In theory, how and why is it that Bakery B enjoys 'ECONOMIES OF SCALE" cost advantages over our bakery, Bakery A?

5.In theory, how and why is it that Bakery C enjoys 'ABSOLUTE" cost advantages over Bakery A?

6.In theory, how may the existence of Bakery B and Bakery C act as a "BARRIER TO ENTRY" (and success) for Bakery A?

7.What is the definition of the term "minimum efficient scale"?

8.In theory, exactly what would it take for a firm to enter the automobile manufacturing industry and compete with GM, Ford, Toyota, and Honda in the U.S. market, and succeed?WHAT 'BARRIERS TO ENTRY AND SUCCESS' MUST BE OVERCOME, IN THEORY, FOR A FIRM TO ENTER AND SUCCEED IN THIS MARKET?Please discuss five to ten barriers to entry that, in theory, a firm would have to overcome in order to enter and succeed in this market.

9.Roughly how many cars per year would this new entrant have to produce and distribute and sell, in order to survive in this market?Why?