The table below shows the long-run total cost of three different firms. Output Firm 1 Firm 2 Firm 3 1 $8 $5 $7 2 14 12 12 3 18 21 15 4 20 32 24 Which firm(s) experience economies of scale for all 4...


The table below shows the long-run total cost of three different firms.



































OutputFirm 1Firm 2Firm 3
1$8$5$7
2141212
3182115
4203224


  • Which firm(s) experience economies of scale for all 4 units of output?

  • What is Firm #3’s minimum efficient scale?



Jun 10, 2022
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