Answer: Both stages with a capacity of 10 units per hour can be considered bottlenecks.
Explanation:
From the information given in the question, the best conclusion is that both stages with a capacity of 10 units per hour can be considered the bottlenecks.
It should be noted that the bottleneck in the chain of processes, is the one that has the limited capacity and this then reduces the capacity of the whole chain and slows down production.
If the long-run average total cost curve for a firm is horizontal in a relevant range of production, then it indicates that there (B) are constant returns to scale.
<h3>
What is the long-run average total cost curve?</h3>
- The long-run average cost (LRAC) curve depicts the firm's lowest cost per unit at each output level, assuming that all production parameters are changeable.
- The LRAC curve presupposes that the firm has determined the best factor mix for creating any amount of production, as discussed in the previous section.
- To derive the long-run total cost function, we take the expansion path's total cost and quantity pairs.
- "When all factors of production are variable, the long-run total cost function displays the lowest total cost of generating each amount."
- If a firm's long-run average total cost curve is horizontal in a relevant production range, it shows that there are consistent returns to scale.
As the description states, if a firm's long-run average total cost curve is horizontal in a relevant production range, it shows that there are consistent returns to scale.
Therefore, if the long-run average total cost curve for a firm is horizontal in a relevant range of production, then it indicates that there (B) are constant returns to scale.
Know more about the long-run average total cost curve here:
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Complete question:
If the long-run average total cost curve for a firm is horizontal in a relevant range of production, then it indicates that there
A. isn't a minimum efficiency scale.
B. are constant returns to scale.
C. are diseconomies of scale.
D. are economies of scale.
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