Find the shape of the long run average total cost curve

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How can the extent to which presence of economies and diseconomies of scale in an industry help account for size and number of companies in that industry? That is, if economies of scale are quite extensive in a particular industry, would you expect a large number of relatively small firms or a small number of relatively large firms operating within that industry? What if diseconomies of scale set in at a relatively small output level?

Reference no: EM1372305

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