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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The first drop down has (one, two, three factories). 4. Costs in the short run versus...
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4. Costs in the short run versus in the long run Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only one factory. However, it is considering expanding production to two or even three factories. The following table shows the company's short-run average total cost (SRATC) each month for various levels of production if it uses one, two, or three factories. (Note: Q equals the total...
Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only one factory. However, it is considering expanding production to two or even three factories. The following table shows the company's short-run average total cost (SRATC) each month for various levels of production if it uses one, two, or three factories. (Note: Q equals the total quantity of bikes produced by all factories.) Number of factories Q = 50 180 270 360 Q = 100 100...
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Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only one factory. However, it is considering expanding production to two or even three factories. The following table shows the company's short-run average total cost (SRATC) each month for various levels of production if it uses one, two, or three factories. (Note: Q equals the total quantity of bikes produced by all factories.) Number of factories Q = 100 440 620 800 Q = 200 280...
Attempts: Average: /4 5. Costs in the short run versus in the long run Ike's Bikes is a major manufacturer of blcycles. Currently, the company produces bikes using only one factory. However, it is considering expanding production to two or even three factories. The following table shows the company's short-run average total cost (SRATC) each month for various levels of production if it uses one, two, or three factories. (Note: Q equals the total quantity of bikes produced by all...
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