. Over time Yasir decides to expand his business. In the long run he first experiences economies of scale, followed by constant returns to scale and finally diseconomies of scale as the output increases. Draw a diagram of his ATC in the short run and the long run. Explain this diagram in detail.

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A: Since both are distinct questions, we will answer the first one (3) only. Please resubmit the other…

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Q: 4. Questions and Diseconomies of scale The law of diminishing marginal returns erence between the…

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A: а)  Shоrt  run  deсisiоn:  Сlоsing  рhysiсаl  stоres. Lоng  run  deсisiоn:  Strengthening…

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Q: Refer to the table below which shows the total cost of producing various output levels in the long…

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Q: The

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Q: Ike's Bikes is a major manufacturer of bicycles. Currently, the company produces bikes using only…

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Q: 5. Costs in the short run versus in the long run Ike's Bikes is a major manufacturer of bicycles.…

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Q: 10. Explain why economies of scale is important

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Short-Run Costs and Long-Run Costs

Cost of short-run and the long-run is an economic term that describes the cost involved in the production of goods in a firm in the short as well as long period.