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Lecture 78

ECON 1010 Lecture 78: Lecture 78

3 Pages

Course Code
ECON 1010
Laura K.Brown

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Oc78 1. Constant returns to scale: the property whereby long run average total cost stats the same as the quantity of output changes 2. Economies of scale often arise because higher production levels allow specialization among workers, which permits each worker to become better at his or her assigned tasks 3. Diseconomies of scale can arise because of coordination problems that are inherent in any large organization 4. Thisanalysis shows why long run average total cost curves are of
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