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.
These stop the backflow of water as the whale shark closes its mouth, preventing the loss of food. The skin of an adult whale shark can be as thick as 4 inches (10 cm) and has the consistency of strong rubber, which limits possible predators to killer whales, great white sharks, tiger sharks and humans. Color