There are generally two ways for the farm family in Question #2 to maximize profitability in their operation, either by operating at the point at which marginal revenue equals marginal costs, or alternatively, operating by maximizing the difference between Total Revenue and Total Costs.

c.How would economies of scale and/or scope affect the farm familys ability to be profitable in such a competitive market? Would it play a role at all? Explain.

The explanation must be one paragraph long. The explain must be clear, persistent, and list number for each answer.