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    shows how the average costs of production for semiconductors (the “chips” in computer memories) change as the quantity of semiconductors built at that factory increases.

    Based on these data, sketch a curve with quantity produced on the horizontal axis and average cost of production on the vertical axis. How does the curve illustrate economies of scale?If the equilibrium quantity of semiconductors demanded is 90,000, can this economy take full advantage of economies of scale? What about if quantity demanded is 70,000 semiconductors? 50,000 semiconductors? 30,000 semiconductors?Explain how international trade could make it possible for even a small economy to take full advantage of economies of scale, while also benefiting from competition and the variety offered by several producers.

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Questions & Answers

what is the difference between perfectly elastic supply and fairly elastic supply
Adaeze Reply
difference between perfectly elastic supply and fairly elastic supply
Adaeze
I need a explanation of capitalism
Victoria Reply
the various economic systems;
King Reply
what is consumer surplus
Amara Reply
Consumer Surplus is the difference between the price that consumers pay and the price that they are willing to pay. On a supply and demand curve, it is the area between the equilibrium price and the demand curve.
stedford
hi to all members
Abdul
i love economics
Neolskae
me too I love economic very much
Kakay
hi everybody
stedford
I love economic
adam
economic is a daily life
Idd
What is economics
Lekan Reply
economic is a social science that studies human behaviour as a relationship between
Kakay
economics is the study of how people allocate their limited resources to provide for their wants
Caliphonia
what causes demand curve shift to left
Richard Reply
When the price of a good rise rapidly
Daniella
what are the disadvantages of dumping
Edwin Reply
what isa microeconomics use for
Favour Reply
what causes demand curve shifted to the left?
Richard
what is demand
John Reply
demand is amount of goods and services that a consumer is willing and able to purchase at a giving price over a period of time
roy
demand is some specific thing thats needed by consumer at a certain time
Melat
demand is the willingness and ability to demand a particular product at a particular price and at a particular time
Rahul
demand is an ability and willingness of a consumer to purchase a particular commodity at a given price over a period of time
adebiyi
What does the 45-degree line show
Hassan Reply
the supply line
Neolskae
been unemployed mean s u don't have work whilst been out of labour for means you are not in age of working or you are above the working age (aged)
roy Reply
no, only the working age
roy
Please briefly explain the relationship between the scarcity, choice and opportunity costs
Thandokazi Reply
What is the effect of raising in price to revenue
Michael Reply
yes
Saa
what is the difference between inflation and deflation?
nebye
price effect
Hez
when you increase price, you increase revenue
Hez
What are the types of price elasticity of supply
jamilu Reply
What's are the types of elasticity
jamilu
what is effect of riaising in price to revenue
Shiyghan Reply
consumer consumption will reduce, as well as demand will fall.
kuntu

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Source:  OpenStax, Principles of economics. OpenStax CNX. Sep 19, 2014 Download for free at http://legacy.cnx.org/content/col11613/1.11
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