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Question 30 1 pts In the long run Irene's Ice Cream Parlor incurs total costs of $2,500 when output is 1,250 units and $4,000 when
Question 30 1 pts In the long run Irene's Ice Cream Parlor incurs total costs of $2,500 when output is 1,250 units and $4,000 when output is 1,500 units. For this range of output, Irine's exhibits efficient scale. diseconomies of scale. constant returns to scale. economies of scale.D Question 31 1 pts A firm in a competitive market has the following cost structure: Output ATC 0 $10 IN $8 $7 UI A W $8 $10 If the firm's fixed cost of production is $3, and the market price is $10, how many units should the firm produce to maximize profit? 3 units 4 units 1 unit 2 units
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