Efficient scale - PowerPoint PPT Presentation

Ch. 13 Study Guide

Ch. 13 Study Guide. B. Plot the Production Function D. and TC curve. 2c. What happens to the MPL as more workers are added to the production facility? Why? Use this information about the MPL to explain the slope of the production function. MPL decreases as more workers are added

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Monopolistic Competition Long Run Equilibrium

Monopolistic Competition Long Run Equilibrium. Chapter 17 Pages 373-386. 3 Market Structures. Competitive Markets. P &gt; MC P &gt; min of ATC. P = MC (always) P = min of ATC (long run) (Efficient Scale Production). Efficiency Review. Allocative Efficiency when P = MC

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