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)
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ISBN:9781337091992
Author:N. Gregory Mankiw
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Chapter12: The Cost Of Production
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6.
A firm's long-run total cost function is given by LTC = 115.000Q-500Q²+Q³,
where Q is the quantity produced. At what range of output does this firm
have economies of scale?
Transcribed Image Text:6. A firm's long-run total cost function is given by LTC = 115.000Q-500Q²+Q³, where Q is the quantity produced. At what range of output does this firm have economies of scale?
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