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Good day, I need help with the following mock question on a past year exam paper. Finding it difficult to answer and understand this economics

Good day, I need help with the following mock question on a past year exam paper. Finding it difficult to answer and understand this economics question.

a) Choose a contemporary business and discuss two factors that bring about the economic concept illustrated in Panel A for that business.

b) Explain the meaning of the LAC curve in Panel C

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