The table below shows the Long-Run Total Cost for three different firms in the block chain...

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The table below shows the Long-Run Total Cost for three different firms in the block chain payments system business. The output is the number of payments processed per minute. Output I 560 $110 $150 Firm B 860 Firm C 3 4 & 7 $180 $200 $210 $230 $120 $150 $240 $300 $360 $420 Output level $60 5130 $210 $320 $450 $600 $730 Long-run average total cost 3 4 5 2 Firm A: Circle one: exhibits economies of scale, diseconomies of scale, constant returns to scale. Firm B: Circle one: exhibits economies of scale, diseconomies of scale, constant returns to scale. Firm C: Circle one: exhibits economies of scale, diseconomies of scale, constant returns to scale. The table below shows the Long-Run Total Cost for three different firms in the block chain payments system business. The output is the number of payments processed per minute. Output I 560 $110 $150 Firm B 860 Firm C 3 4 & 7 $180 $200 $210 $230 $120 $150 $240 $300 $360 $420 Output level $60 5130 $210 $320 $450 $600 $730 Long-run average total cost 3 4 5 2 Firm A: Circle one: exhibits economies of scale, diseconomies of scale, constant returns to scale. Firm B: Circle one: exhibits economies of scale, diseconomies of scale, constant returns to scale. Firm C: Circle one: exhibits economies of scale, diseconomies of scale, constant returns to scale.

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Output level 1 2 3 4 5 6 7 Firm A LRTC 60 110 150 180 200 ... View the full answer