Draw to LRATC curves. The first exhibits both economics of scale and diseconomies of scale. The...
Draw to LRATC curves. The first exhibits both economics of scale and diseconomies of scale. The second exhibits economise of scale. Constant returns to scale, and diseconomies of scale.
Would be greatly appreciated if it answered in 5sentences by your own, not copy and pasted please.
Homework Answers
Long run average Total cost curve (LRATC) goes down due to economies of scale where each additional unit of production reduces cost .
Then emerges constant returns to scale where the LRATC remains flattened with minimal or negligible change in cost
Lastly due to diseconomies of scale the LRATC goes up where each additional unit costs more.
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Draw to LRATC curves. The first exhibits both economics of scale
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