Concepts of economies and diseconomies of scale
Employ the concepts of economies and diseconomies of scale to explain the shape the firms long- run ATC curve. What is the concept of minimum efficient scale? What bearing can the shape of the long run ATC curve have on the structure of an industry?
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Employ the concepts of economies and diseconomies of scale to explain the shape the firms long- run ATC curve. What is the concept of minimum efficient scale?
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What is needed for a market to be considered monopolistically competitive? How does the equilibrium in a monopolistically competitive market resemble that in a perfectly competitive market?
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