Raab, Raymond L.; Steinnes, Donald N. - In: Studies in Economics and Finance 14 (1993) 2, pp. 3-14
Past observers of the iron ore industry have asserted that significant economies of scale exist in the mining of iron ore which is enriched into taconite pellets. Quasi, long‐run average costs (LAC) of production are measured and used to estimate optimum scale of plant. Indeed the LAC appears...