Business, 29.06.2021 20:20 lovemusic4
IIf you have the data of Total cost (TC)= 15, 25, 30, 40, 55, 75, 100 against units of output (Q) = 1,2,3,4,5,6,7. You are required to (a) calculate the values of Marginal Cost (MC) and Average Cost (AC) (b) Define Returns to Scale (c) Over what range of labor input is economies of scale? (d) Over what range of labor input is diseconomies of scale ?(e) Over what range of labor input is neither economies nor diseconomies of scale
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IIf you have the data of Total cost (TC)= 15, 25, 30, 40, 55, 75, 100 against units of output (Q) =...
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