Consider the following table for long run total cost of 3 firms:
Qty. 1 2 3 4 5 6 7
Firm A Rs. 10 Rs. 20 Rs. 30 Rs. 40 Rs. 50 Rs. 60 Rs. 70
Firm B Rs. 60 Rs. 70 Rs. 90 Rs. 100 Rs. 110 Rs. 120 Rs. 126
Firm C Rs. 1 Rs. 4 Rs. 9 Rs. 16 Rs. 25 Rs. 36 Rs. 49
Do these firms experience economies of scale, diseconomies of scale or constant
returns to scale?
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