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Business chosen: Barbershop. Describe how the long-run average cost (LRAC) curve can be derived from the short-run average total cost (SRATC) curve. Discuss if the
Business chosen: Barbershop.
- Describe how the long-run average cost (LRAC) curve can be derived from the short-run average total cost (SRATC) curve.
- Discuss if the business you chose enjoys economies of scale. Be sure to provide reasons why the business may or may not have economies of scale.
- Explain how economies of scale help your business compete in its industry.
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Macroeconomics
Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore, Ronald D. Kneebone
8th Canadian Edition
134646355, 9780134842615 , 978-0134646350
