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(Solved) For each of the three short—run average total cost curves, you should have simply plotted the data from the table. For the long-run average total...


For each of the three short—run average total cost curves, you should have simply plotted the data from the table. For the long-run average total cost curve, you should have selected the point for each output level that corresponded to the lowest possible average total cost. For output levels of 100 and 200 bikes per month, for example, Ike's can achieve its lowest average total cost by using one factory; for 300 bikes per month, its lowest cost can be achieved using one, two, or three factories; and for more than 300 bikes per month, it minimizes its average total cost by using three factories. In the long run, over which range of output levels does Ike experience increasing returns to scale? I © Less than 200 bikes per month 0 More than 400 bikes per month 0 Between 200 and 400 bikes per month
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Could you tell me which one is in range Economies of Scale, Constant Returns to Scale, Diseconomies of Scale respectively?
This question was created from ECON205 - Homework05 - S09 https://www.coursehero.com/file/6204485/ECON205-Homework05-S09/?focusQaId=10362889

 


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