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3) Plot the following data on quantity of production and long run average cost for a firm. Are there economies of scale, diseconomies of scale,

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3) Plot the following data on quantity of production and long run average cost for a firm. Are there economies of scale, diseconomies of scale, or constant returns to scale? Indicate these areas on your diagram. (4 points) Long run Quantity ATC 1 45 2 39 37 37 42 50 7 62

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