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RATC and LRS Assignment 1. The information below gives information regarding a firm's long run average total costs. Graph the LRATC curve and identify the following: economies of scale, constant returns to scale, and diseconomies of scale. Output Level LRATC 1 $750 N $550 $425 $350 $300 $300 $375 $500 LD CO $675 10 $900 a. What are some reasons the firm might experience economies of scale? b. Why might the firm experience diseconomies of scale? c. What is the significance of constant returns to scale? d. The firm's LRATC is based on the firm being able to adjust its level of capital in the long run. What is the firm's goal when it adjusts capital