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Economies of Scale and Long-Run Costs- Micro Topic 3.3
3:55
YouTubeJacob Clifford
Economies of Scale and Long-Run Costs- Micro Topic 3.3
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 ...
1.7M viewsNov 17, 2015
Long-run Cost Curve Explained
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