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In the above figure, for any output level less than Q2, this firm experiences

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In the above figure, for any output level less than Q2, this firm experiences

Question 1.

Economies of scale occur when there are

• no changes in long-run average costs when output increases.

• decreases in long-run average costs resulting from increases in output.

• decreases in output resulting from decreases in input.

• increases in long-run average costs when output increases.

Question 2.

In the above figure, for any output level less than Q2, this firm experiences

• constant economies of scale.

• economies of scale.

• decreasing long run average costs.

• diseconomies of scale.

Textbook

Economics Today: The Micro View

Edition: 19^th

Author: Miller

Read 35 times

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Isack

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More solutions for this book are available here

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asdoooeoe Author

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5 years ago

Brilliant

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