Question
Plot the following data on quantity of production and long-run average total cost for a firm. Show the areas of economies and diseconomies of scale
Plot the following data on quantity of production and long-run average total cost for a firm. Show the areas of economies and diseconomies of scale and constant returns to scale. What is the minimum efficient scale?
| Quantity | Long-Run ATC |
|---|---|
| 1 | 33 |
| 2 | 27 |
| 3 | 25 |
| 4 | 25 |
| 5 | 30 |
| 6 | 38 |
| 7 | 50 |
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Business Mathematics In Canada
Authors: Ernest Jerome
7th edition
978-0071091411, 71091416, 978-0070009899
