Thank you for your help!! Map Points Possible: Grade Category: Description: Poli

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Map Points Possible: Grade Category: Description: Policies: saplina llearning Which section of the firms long-run average cost The table illustrates the long-run average cost values for the refrigerator industry. Use the table to answer the threecurve demonstrate (select the appropriate letter corresponding questions from the dropdown modules below) Economies of scale Quantity ProducedLong-Run Average Cost 10,000 20,000 C 30,000 D40,000 50,000 60,000 $1,200 $900 $700 $700 $800 $1,000 You can check you You can view solu You have four att Incorrect. Economies of scale refers to the cost benefits of expanding production You lose 15% of th answer in your qu at that answer. For multiple-choic on the number of Constant returns to scale iseconomies of scale to D TE eTextbook Help With This Web Help & Vid O Technical Suppo Previous Try Again Next Exit

Explanation / Answer

1.Economies of scale operates till the point the average costs keep coming down. Then the economies of scale Ato C

Constant -C to D

Diminishing or diseconomies of scale D to F.

2. A = 30000-10000 (VC=TC-FC) = 20000

B= TC=FC+VC =10000+10000=20000

C = (15000-10000)/(18-0) =5000/18=277 (MUn = TUn-TUn-1/Qn-Qn-1)

D= (30000-25000)/(78-65) = 5000/13 =384.61

E= (40000-35000)/(94-88) = 5000/6=833.33

F= AC=TC/Q =15000/18 =833.33

G=30000/78 =384.6154

H = AVC=VC/Q = 30000/94 = 319.1489

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