Describe the competitive advantages firms may be able to realize by operating in the economies of scale segment of the long run average total cost curve.

Diseconomies of scale mean that:

a. a firm's long-run average total cost curve is declining.

b. a firm's long-run average total cost curve is rising.

c. the advantages of specialization are being more fully realized.

d. a given increase in inputs results in a more-than-proportionate increase in output.

Economies of scale are indicated by:

a. The rising segment of the average variable cost curve.

b. The declining segment of the long-run average total cost curve

c. The difference between total revenue and total cost

d. rising marginal cost curve

Economies of scale are indicated by:

1. the rising segment of the average variable cost curve.     

2. the declining segment of the long-run average total cost curve.

3.  the difference between total revenue and total cost.

4.  a rising marginal cost curve