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Peter and Shelly are starting a lemonade stand business. Since it takes extra time initially to set up the lemonade stand, the total time to
Peter and Shelly are starting a lemonade stand business. Since it takes extra time initially to set up the lemonade stand, the total time to make the first 10 lemonades is 1 hour. The time to make the next 50 lemonades is 2 hours. If Peter and Shelly are each paid $5 an hour, and this is the only cost involved, this enterprise is experiencing Select all that apply: declining average costs increasing average costs economies of scale diseconomies of scale
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