List three factors that will decrease both the short-run and long-run average cost curves.
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Q122: Suppose it takes 50 workers and 80
Q123: Table 7.1 contains short-run cost date for
Q124: Suppose that a firm's output increases from
Q125: Suppose that a firm's output increases from
Q126: Differentiate between a short-run average cost curve
Q127: Define minimum efficient scale.
Q128: Suppose it takes 30 workers and 120
Q130: Table 7.3 contains long-run cost data for
Q131: "An industry will have a large variety
Q132: Explain how the long run average cost
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