ased on your own personal observations of the college, do you think the low-income Community College is experiencing economies of scale, diseconomies of scale, or constant returns to scale? Make certain to explain your answe

describe economies and diseconomies of scale while explaining possible reasons for both situations to occur

Explain the differences between diminishing marginal returns and diseconomies of scale.

Discuss whether economies of scale have any relevance to such companies as Wal-Mart.

What does the Long Run Average Cost (LRAC) curve imply when it is horizontal? There are diseconomies of scale. There are constant returns to scale. There are economies of scale.

Distinguish between economies of scale and diseconomies of scale. Give examples of why a firm may experience economies of scale.

A hospital provides emergency-room medical care for local residents. Suppose the hospital currently provides this care for 15,000 patients per year at a total cost of $60,000,000. If the hospital expands, it can provide emergency-room medical care for 20,000 patients per year at a total cost of $10,000,000. If the hospital expands, will it be experiencing economies of scale, diseconomies of scale, or constant returns to scale? If the hospital expands, it will be experiencing diseconomies of scale constant returns to scale economies of scale

How could you explain the difference between economies of scope and economies of scale? Please explain, thank you!

A hospital provides emergency-room medical care for local residents. Suppose the hospital currently provides this care for 15,000 patients per year at a total cost of $15,000,000. If the hospital expands, it can provide emergency-room medical care for 20,000 patients per year at a total cost of $70,000,000. If the hospital expands, will it be experiencing economies of scale, diseconomies of scale, or constant returns to scale? If the hospital expands, it will be experiencing constant returns to scale economies of scale diseconomies of scale

Complete the following table and answer the short discussion question. Average Cost (AC) Average Fixed Cost Total Cost Average Variable Cost Output (Q) Total Fixed Total Variable Marginal Cost (MC) Cost (TVC) Cost (TFC) (TC) (AFC) (AVC) $50 $75 1 $100 2 $120 3 $135 4 $150 5 $190 6 $260 Given the results from your table, what level of output would you produce to minimize cost per unit? If the price of the product is $20 per unit, how many units of output would you produce? What is your decision rule?