The firm's long-run total cost is given by ltc = 100q – 10q2 + (1/3)q3, and long-run marginal cost is given by lmc = 100 – 20q + q2. at what output level does the firm have economies of scale

The firm will have economies of scale if it's output level is less than

15 units.

We have:

Long-run Total Cost curve:

and Long run Marginal Cost Curve as:

If the firm produces 'q' units then, we derive the firm's long term Average Cost Curve (AC)  by dividing the long term cost curve by q.

A firm is said to have economies of scale as long as its Marginal Costs (MC) is lesser than the Average Costs (AC) i.e .

Hence,

Solving for q from the equation above, we get

-10q +\frac{2}{3}q^{2} < 0

Dividing by q we get,

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi