Peter's Pipers producers plumbing pipe. The long-run total cost of Peter's pipes is LTC = 20,000q-200q² +q where Q is measured as thousands of feet of piping. The long-run marginal cost of Peter's pipes is given as LMC = 20,000– 400q+3q? Over what range of output does Peter's Pipers experience economies of scale, and over what range of output does Peter's Pipers experience diseconomies of scale?

Peter's Pipers producers plumbing pipe. The long-run total cost of Peter's pipes is LTC = 20,000q-200q² +q where Q is measured as thousands of feet of piping. The long-run marginal cost of Peter's pipes is given as LMC = 20,000– 400q+3q? Over what range of output does Peter's Pipers experience economies of scale, and over what range of output does Peter's Pipers experience diseconomies of scale?

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter11: The Firm: Production And Costs

Section: Chapter Questions

Problem 21P

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