Y2 5) Long Run Costs and Returns to Scale (LRAC) 

Irl?

@@shrutiupadhyay5013 In real Life*

U revised for exam?

What are you studying/ did you study?

You're the reason why I got an A* for cons unit 3

this made my day

Euan Scott hahahahahahahagagahaggahahahahahahahahahahahHahahahhaahahahahabahahhaahhaahhaa

🤣🤣🤣

does not work for me(((

LOL

LRAC is the minimum line of all the SRAC's

ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-URIjtaP6SPk.html if youre still confused

Economies of scale is when long-run average cost decreases as a firm expand. Returns to Scale is how much output changes in response to changes in inputs. Bit late but there ya go (:

did you find out?

for the first level of output- 3000, he added the capital and labor taken to produce in order to calculate total inputs used (150 Labor and 20 Capital= 170 total inputs he did the same for the 2nd level of output as well-7500 (300 Labor and 40 Capital= 340 total inputs) then he got the percentage change in inputs (the difference between the total inputs divided by the original/previous input level into 100) (340 -170= 170 (the difference)/170 x 100= 100) 100 is the % change in input level for output 7500-3000=4500 (difference in the first two output levels) to get percentage change divide the difference by the original output level into 100 (4500/3000 x 100)= 150 is the % change in output level. Hope this helped :)

Bruh. 03:30 Like I'm really enjoying the lesson but wth is going on there?

british indian