In this video I explain the idea of what happens to output and costs in the long-run. I cover two similar but different ideas: increasing retruns to scale and economies of scale. The first one focuses on what happens to output and the second focuses on costs. I also cover t he idea of diseconomies of scale. And, of course, you get a bonus round. Let me know what you think and please subscribe.
Video about short run production-
https://www.youtube.com/watch?v=xLSRM...
Need help? Check out the Ultimate Review Packet for FREE: https://www.acdcecon.com/review-packet
Watch Episodes of Econmovies-
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Check out the TV show How It's Made to see more economies of scale at work-
https://www.youtube.com/channel/UCjHs...
placement example Economies of Scale and Long-Run Costs- Micro Topic 3.3 | |
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