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?
Chapter11: The Firm: Production And Costs
Section: Chapter Questions
Problem 20P
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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?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc782ba6d-890a-46dc-b2fd-c88d2435048d%2F4acc7ffb-8ba6-49b6-bb66-249698ae4043%2Fzv8idka_processed.jpeg&w=3840&q=75)
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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