What explanation can you suggest for the shape of the long-run average total cost curve for oil tankers. Why does it differ from the U-shaped curve described in your textbook? Do the following...

What explanation can you suggest for the shape of the long-run average total cost curve for oil tankers. Why does it differ from the U-shaped curve described in your textbook? Do the following production functions assume increasing, constant or decreasing returns to scale ? (a) Q= ALvK; (b) Q= A~vL; (c) Q= A{/K Lz. How would the existence of (i) increasing, (ii) decreasing returns to scale affect the general conclusions of the 'model'?