6.12 (Related to the Don't Let This Happen to You] in his autobiography, T. Boone Pickens, a geologist,entrepreneur, and ol company executive, wrote:Its unusual to find a large corporation thats oficient. When you get an inside look, it's eany to see how ineficient big business realyis Most corporate bureaoracies have more people than they have work.Was Pickens desoribing diminishing returns or diseconomies of scale? Briefly explain.

6.12 (Related to the Don't Let This Happen to Youin his autobiography, T. Boone Pickens, a geologist, entrepreneur, and ol company executive, wrote: unualo trda rge corponton has officiert. When you get an nede look eny to soe how ineficient tig burely Most coponte buaoes hae more pacple than they hae work Was Pickens describing diminishing returms or diseconomies of scale? Briefly explain.

6.12 (Related to the Don't Let This Happen to Youin his autobiography, T. Boone Pickens, a geologist, entrepreneur, and ol company executive, wrote: unualo trda rge corponton has officiert. When you get an nede look eny to soe how ineficient tig burely Most coponte buaoes hae more pacple than they hae work Was Pickens describing diminishing returms or diseconomies of scale? Briefly explain.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter7: Production, Costs, And Industry Structure

Section: Chapter Questions

Problem 33CTQ: Average cost curves (except for avenge fixed cost) tend to be U-shaped, decreasing and then...

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