Question
Suppose that the long-run total cost function for a firm is LTC =2Q 3 + 3Q 2 + 50Q +3,200 and its long-run marginal cost
Suppose that the long-run total cost function for a firm is LTC =2Q3 + 3Q2 + 50Q +3,200 and its long-run marginal cost function is 6Q2 + 6Q + 50 . At what levels of output will the firm face economies of scale? Diseconomies of scale?
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Microeconomics
Authors: Dean S. Karlan, Jonathan J. Morduch
2nd edition
1259813337, 1259813339, 978-1259813337
