Consider the values in the following table for the Winsome Widget Factory. Winsome Widget Factory Output Long
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Question:
Consider the values in the following table for the Winsome Widget Factory.
Winsome Widget Factory | |
---|---|
Output | Long Run Average Total Cost |
0 | - |
5 | 170 |
10 | 110 |
15 | 85 |
20 | 83 |
25 | 78 |
30 | 75 |
35 | 75 |
40 | 80 |
45 | 82 |
50 | 97 |
a. Over what output levels do the economics of scale occur? Explain.
b. Over what output levels do constant returns to scale occur? Explain.
c. Over what output levels do diseconomies of scale occur? Explain.
Related Book For
Applied Statistics and Probability for Engineers
ISBN: 978-1118539712
6th edition
Authors: Douglas C. Montgomery, George C. Runger
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