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.
by Fox Meyer. Squids, octopuses, and cuttlefishes are among the few animals in the world that can change the color of their skin in the blink of an eye.esides chromatophores, some cephalopods also have iridophores and leucophores. Iridophores have stacks of reflecting plates that create iridescent greens, blues, silvers and golds, while leucophores mirror back the colors of the environment, making the animal less conspicuous.