Question: How can the long-run average cost (LRAC) curve be derived from the short-run average total cost (SRATC) curve? Describe economies of scale and diseconomies of

  • How can the long-run average cost (LRAC) curve be derived from the short-run average total cost (SRATC) curve?
  • Describe economies of scale and diseconomies of scale.
  • What are the determinants of economies of scale and diseconomies of scale, respectively?
  • Using a real-world company (other than Sysco), explain the causes of economies of scale for your company.
  • Explain how economies of scale help your company compete in its industry.

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