Table 7-B
The long-run total cost schedule of a perfectly competitive firm that produces walnuts is as follows:
$\begin{array}{llcc}
\text { Pounds of} & 1,000&2,000&3,000&4,000&5,000&6,000 \
\text { Walnuts } &\
\text { Total Cost} &\$3,000&\$5,500&\$7,500&\$8,000&\$11,000&\$15,000\
\end{array}$

-Refer to Table 7-B.A firm expanding from producing 1,000 to 2,000 pounds of walnuts in the long run is experiencing:

Question

Table 7-B
The long-run total cost schedule of a perfectly competitive firm that produces walnuts is as follows:
 $\begin{array}{llcc}
  \text {  Pounds of} & 1,000&2,000&3,000&4,000&5,000&6,000 \
 \text {  Walnuts } &\
 \text {   Total Cost} &\$3,000&\$5,500&\$7,500&\$8,000&\$11,000&\$15,000\
\end{array}$

-Refer to Table 7-B.A firm expanding from producing 1,000 to 2,000 pounds of walnuts in the long run is experiencing:

Quizplus · Accepted Answer

The firm's total cost increases from $3,000 to $5,500, which is less than a proportional increase in output. This indicates economies of scale.

Table 7-B the Long-Run Total Cost Schedule of a Perfectly

Table 7-B
the Long-Run Total Cost Schedule of a Perfectly