Question

A firm produces two​ products: q1 and q 2​. The​ firm's total cost curve is given​...

A firm produces two​ products: q1 and q 2​. The​ firm's total cost curve is given​ by:

TC = ​$1, 500 + 3q 1 q 2 + 10q 1 + 60q 2

.

If q 1 =20 and q 2 =40​, this firm:

has economies of scope

does not have economies of scope

has economies of scale

has neither economies of scope nor economies of scale

Please show ALL work.

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