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econ question Suppose that three different technologies can be used to produce a special product. The following table shows the total cost related to each

econ question

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Suppose that three different technologies can be used to produce a special product. The following table shows the total cost related to each technology for the amount of output produced per day. A firm is considering adopting a proper technology to produce this special product. Derive the long-run average- total-cost curve to help the firm making its decision. Quantity N Firm 1 $30 $40 $50 $60 $75 $90 $110 Firm 2 on 119 Firm 3 106 132 !!! HMM III O . . . . 60% 202

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