Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following table shows the quantity and the long-run total cost of a firm Quantity (thousands) 1 2 3 4 5 6 7 8 9

The following table shows the quantity and the long-run total cost of a firm

Quantity (thousands) 1 2 3 4 5 6 7 8 9 Long-run total cost (thousands of dollars) 50 80 111 140 170 216 273 336 468 a. At what level(s) of quantity are there economies of scale? Explain your answer. b. Discuss three factors that create economies of scale.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Economics And Financial Analysis

Authors: M.S. Bhat, A.V. Rau

1st Edition

9352300211, 978-9352300211

More Books

Students also viewed these Economics questions

Question

=+b) Is the process for making baseballs in control?

Answered: 1 week ago

Question

Always show respect for the other person or persons.

Answered: 1 week ago

Question

Self-awareness is linked to the businesss results.

Answered: 1 week ago