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Evaluate the following situation: The Cel One company that manufactures cell phones makes changes in its production process that led to better production efficiency and
Evaluate the following situation: The Cel One company that manufactures cell phones makes changes in its production process that led to better production efficiency and a reduction in its long-term average costs. On the other hand, its main competitor Cel Prime has not made changes in the production process and in its cost structure for a long time. Explain and demonstrate graphically the differences and effects between both production and cost functions.
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