In this video I explain the idea of what happens to output and costs in the longrun. 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 Productio...  

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Check out the TV show How It's Made to see more economies of scale at work
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