6. A firm's long-run total cost function is given by LTC = 115.000Q-500Q2 + G where Q is the quantity produced. At what range of output does this firm have economies of scale?
6. A firm's long-run total cost function is given by LTC = 115.000Q-500Q2 + G where Q is the quantity produced. At what range of output does this firm have economies of scale?
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
Section: Chapter Questions
Problem 7QR
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