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2. Define the following concepts. a. increasing returns to scale g. variable proportions production b. economies of scale h. fixed cost c. fixed proportions production

2. Define the following concepts.

a. increasing returns to scale g. variable proportions production

b. economies of scale h. fixed cost

c. fixed proportions production i. variable cost

d. short-run j. minimum efficient scale

e. long-run k. technical efficiency

f. law of diminishing returns l. economic efficiency

dont give plagarise Answer

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