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?

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter11: The Firm: Production And Costs
Section: Chapter Questions
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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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