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. Let me know what you think and please subscribe. Video about short run production- • Diminishing Returns and the Production Fun... Need help? Check out the Ultimate Review Packet for FREE: https://www.acdcecon.com/review-packet Watch Episodes of Econmovies- • EconMovies Check out the TV show How It's Made to see more economies of scale at work- / channel
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