Economies of Scale and Long Run Average Cost (LRAC) 1  In the long run all costs are variable and the scale of production can change (i.e. no fixed inputs) 2  Economies of scale are the cost advantages from expanding the scale of production in the long run. The effect is to reduce average costs over a range of output. These lower costs represent an improvement in productive efficiency and can give a business a competitive advantage in a market.
Tiger sharks (pictured) are among the 17 species that appear to lack color vision. Sharks may be able to smell blood from miles away, but they probably don't know how red it is: New research suggests sharks are color-blind.
âBiggest great white shark ever filmedâ surfaces in newly released video. August 10, 2015 By Pete Thomas. Deep Blue approaches cage divers. Two months ago we shared newly released footage of a massive great white shark that was being referred to as perhaps the largest white shark ever recorded on video. The Facebook clip garnered 7 million views, and on Monday more footage of the same shark was posted to Facebook by the same researcher, Mauricio Hoyos Padilla.