Jones Production started business with a small scale plant.Fortunately for Smith, the owner of Jones Production, the business grew rapidly.The table below gives the total costs and the associated output for each year.
a∙Complete the table by finding the average cost for each scale.

b∙Over what range of total product (output)did Jones Production experience economies of scale, constant returns to scale, and diseconomies of scale?

Question

Jones Production started business with a small scale plant.Fortunately for Smith, the owner of Jones Production, the business grew rapidly.The table below gives the total costs and the associated output for each year.
a∙Complete the table by finding the average cost for each scale.
  
b∙Over what range of total product (output)did Jones Production experience economies of scale, constant returns to scale, and diseconomies of scale?

Quizplus · Accepted Answer

The Answer of Jones Production started business with a small scale plant.Fortunately for Smith, the owner of Jones Production, the business grew rapidly.The table below gives the total costs and the associated output for each year.
a∙Complete the table by finding the average cost for each scale.
  
b∙Over what range of total product (output)did Jones Production experience economies of scale, constant returns to scale, and diseconomies of scale?

Jones Production Started Business with a Small Scale Plant