The table below shows the monthly output and total monthly cost of widgets for three firms in the widget industry. Given the information in the table, can we draw any conclusions about the returns to scale in the widget industry? If so, what does the information suggest about the shape of the long-run average cost curve?
Definitions:
Myelin Sheaths
Protective coverings around nerve fibers made of myelin, which increase the speed at which impulses propagate along the myelinated fiber.
PNS
Peripheral Nervous System, which consists of the nerves and ganglia outside of the brain and spinal cord.
Nerves
Bundles of axons within the peripheral nervous system that transmit information to and from the brain and spinal cord to the rest of the body.
Membrane Permeability
The quality of a biological membrane that allows substances to pass through it, controlling the entry and exit of materials.
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