Help me answer the following

What I Know Questions: What I Learned 1. What is the difference between economies and diseconomies of scale? 2. What is long-run average cost curve? 12. What do you think are the reasons why diseconomies of scale happen in several firms? 3. In connection with your answer on #2, if you will become an owner/manager of a firm in the future, how will you respond on a situation wherein diseconomies of scale start to occur? 4. What is the main difference between economies and diseconomies of scale in terms of cost and output produced? 3Part 1 | No. Internal Economy of Scale Example Technical/Production 2 Financial Purchasing Marketing 5 Managerial Part 2 Direction: Identify whether the following items are internal or external economies of scale.Write "Internal or External" before the given number. 1. As an industry develops, all the firms engaged in it decide to divide and sub- divide the process of production among themselves. 2. Many scientific and trade journals are published which are being shared among the firms in a given industry. 3. A big firm has its own means of transportation to carry finished as well as raw material from one place to another. 4. Skilled workers are employed in a firm which leads to save production, time and simultaneously encouraged new ideas. 5. All the large sized firms are in a position to use its by-products and waste- material to produce another material and thus, supplement to their income. Part 3 Direction: On your own opinion, kindly answer the following questions: 1. Does it matter for a manager of a firm to know whether economies or diseconomies of scale occur? Elaborate your answer. 2