Table 13-13
Consider the following table of long-run total cost for four different firms:

-Refer to Table 13-13.Which firm has economies of scale over the entire range of output?

Name: Table 13-13 Consider the following table of long-run total cost for four different firms: -Refer to Table 13-13.Which firm has economies of scale over the entire range of output?
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Question

Table 13-13
Consider the following table of long-run total cost for four different firms:
 
-Refer to Table 13-13.Which firm has economies of scale over the entire range of output?

Quizplus · Accepted Answer

Firm 2 has economies of scale over the entire range of output because its average total cost decreases as output increases.

Table 13-13 Consider the Following Table of Long-Run Total Cost for Four