The figure given below shows three Short Run Average Total Cost (SRATC) curves and the Long Run Average Total Cost (LRATC) curve of a firm.Figure 8.3

-If short-run average total costs are rising in the oil tanker industry, it implies that economies of scale exist in that industry.

Question

The figure given below shows three Short Run Average Total Cost (SRATC) curves and the Long Run Average Total Cost (LRATC) curve of a firm.Figure 8.3
 
-If short-run average total costs are rising in the oil tanker industry, it implies that economies of scale exist in that industry.

Quizplus · Accepted Answer

The Answer of The figure given below shows three Short Run Average Total Cost (SRATC) curves and the Long Run Average Total Cost (LRATC) curve of a firm.Figure 8.3
 
-If short-run average total costs are rising in the oil tanker industry, it implies that economies of scale exist in that industry.

The Figure Given Below Shows Three Short Run Average Total