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A Company's Long-Run Total Cost Can Be Written as LTC

Question 179

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A company's long-run total cost can be written as LTC = 3,000Q - 50Q2 + 1/3Q3 and its long-run marginal cost by LMC = 3,000 - 100Q + Q2. This company will undergo economies of scale at a quantity of _____ and diseconomies of scale at a quantity of _____.

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First, determine the equation for long-r...

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