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Suppose that the long-run total cost function for a firm is LTC 22,6000-30002 +Q3, and its long-run marginal cost function is LMC = 22,600-6000
Suppose that the long-run total cost function for a firm is LTC 22,6000-30002 +Q3, and its long-run marginal cost function is LMC = 22,600-6000 + 302. (These cost functions yield a typical U-shaped long-run average cost curve.) At what levels of output will the firm face economies of scale? Give your answer as an interval in the form ("."). economies of scale: units of output
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College Accounting A Contemporary Approach
Authors: David Haddock, John Price, Michael Farina
3rd edition
77639731, 978-0077639730
