A firm may have economies of scale, even if it does not have increasing returns to scale

A firm may initially have economies of scale and later have diseconomies of scale

An industry where economies of scale are exhausted at an output that is low relative to the industry output may have many small firms

Throughout the output range where a firm enjoys economies of scale, its long-run marginal cost curve, LMC, will slope downwards

Its SAC curve will stay put if the price of an input that is fixed in the short run increases

Its SAC curve will shift upwards it the price of an input that is variable in the short run increases

Its SAC curve will generally lie above its LAC curve

Its LAC curve will shift upwards if new firms enter its industry and there are external diseconomies of scale

It is a profit-maximizing firm

It is a profit-maximizing firm

It is an economically efficient firm

It has at least one fixed input

Its choice of production method

The expansion path on which it ends up

Its isocost lines

Its production function

The market supply curve represents the individual supply curves of all firms which produce the product added together

The market supply curve may shift if there is a change in the behaviour of some firms which produce the product

The market supply curve may shift if there is change in the price of the product

The market supply curve may shift if there is a change in the number of firms which supply the product