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The following table shows some of the long-run costs for the American Production Company

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a question Dec 25, 2014 at 10:53am;The following table shows some of the long-run costs for the American Production Company;Quantity of output Total cost Average cost Marginal cost;50 A $1,000 -;51 $52,000 D F;52 B $1,038 G;53 C E $5,000;Fill in the blanks (a) through (g), showing the process to compute the numbers for the blanks. Over the range of output levels shown above, does the firm?s production function have economies of scale or diseconomies of scale? Explain the reason for your answer.

 

Paper#32885 | Written in 18-Jul-2015

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