Table 12-15
Consider the following table of long-run total cost for four different firms:

-Refer to Table 12-13.Which firm has economies of scale and then diseconomies of scale as output increases from 1 to 7?

Question

Table 12-15
Consider the following table of long-run total cost for four different firms:
 
-Refer to Table 12-13.Which firm has economies of scale and then diseconomies of scale as output increases from 1 to 7?

Quizplus · Accepted Answer

Firm 1 has economies of scale as output increases from 1 to 4, and diseconomies of scale as output increases from 4 to 7.

Table 12-15 Consider the Following Table of Long-Run Total Cost for Four