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April 20, 2014

Homework Help: Management & Econ

Posted by Lisel on Saturday, September 17, 2011 at 4:26pm.

a) Explain why a short run average cost curve only touches the long run average cost curve at one point on the long run average curve.
b) Define clearly the concept of returns to scale
c)What are the two causes of the region of economics of scale for a long run average cost curve.

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