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PLEASE ANSWER IN LAYMAN'S TERMS PLEASE USE LANGUAGE THAT ARE IN THE QUESTIONS 1. Economies ot Scale Consider the following table of long-run total costs

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PLEASE ANSWER IN LAYMAN'S TERMS

PLEASE USE LANGUAGE THAT ARE IN THE QUESTIONS

image text in transcribed

1. Economies ot Scale Consider the following table of long-run total costs for three different firms: Quantity Firm A Firm B Firm C 10 10 10 2 21 15 19 3 32 28 4 43 23 37 5 54 35 46 6 66 50 55 so 65 60 whether eac erperieez ecommies or economiez ofz.cale (Note: Ifafimt experiees economies of scale in region and ofscale in another, make to select both columns.) Firm Economies of Scale Diseconomies of Scale

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