MICROECONOMICS (LL)-W/ACCESS >CUSTOM<
MICROECONOMICS (LL)-W/ACCESS >CUSTOM<
11th Edition
ISBN: 9781264207718
Author: Colander
Publisher: MCG CUSTOM
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Chapter 12.1, Problem 3Q
To determine

Explain why larger production runs often cheaper than the smaller production.

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Explain how a decrease in input prices or an increase in efficiency would affect costs.
If the marginal cost of production is greater than the average variable cost, what does this tell you about the nature of the average variable cost
Would you please tell me how the economies of scale can spread out the cost of production, so that the average cost of each product is reduced?
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