2/3 Economics of Scale Read Chapter 6 and review Chapter 5 in Economics for Managers. As you read, think about the goods and services that your organizatio
2/3 Economics of Scale Read Chapter 6 and review Chapter 5 in Economics for Managers. As you read, think about the goods and services that your organization produces and what their production costs might be.
Utilizing the following link, COVID-19, explain how COVID-19 procedures have inhibited firms’ achievement of economies of scale, essentially hastening the onset of diseconomies of scale. First, explain how attempts at dealing with COVID-19 have resulted in less demand for a cadre of services such as airline travel, restaurants, barber shops, salons, and theme parks. Focus on the notion of “less quantity of output” and how that would inhibit the achievement of economies of scale. Secondly, explain what firms like the above are doing trying to save their businesses as they deal with the pandemic. Are these attempts at saving their businesses being successful? What would it take to rebuild economies of scale and the associated benefits? Explain.
Your initial response should be 400 to 600 words in length and include two academic sources that are properly cited. It is due by the end of the fourth day of the workshop.