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Author Question: The figure below shows a family of cost curves for a firm. The subscripts 1, 2, and 3 for the SRATC ... (Read 60 times)

booty5

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on: Oct 12, 2022

The figure below shows a family of cost curves for a firm. The subscripts 1, 2, and 3 for the SRATC curves refer to different plant sizes.



FIGURE 8-2

Refer to Figure 8-2. Suppose this firm is producing output level Q3 with plant size 2. Now suppose this firm changes to plant size 3 and is producing output level Q5. We can say that


◦ output has increased more than in proportion to the increase in inputs.
◦ this firm has experienced economies of scale.
◦ output has increased exactly in proportion to the increase in inputs.
◦ the firm is then operating with the optimal plant size.
◦ output has increased less than in proportion to the increase in inputs.
Microeconomics ¦ Ragan ¦ 17th Edition
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Marked as best answer by booty5 on Oct 12, 2022

Harsh06

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Reply #1 on: Oct 12, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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booty5

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Reply 2 on: Oct 12, 2022
Great answer, keep it coming :)

Jossy

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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