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I need typing answer urgent Please show the work step by step, thank you. 3. Given below is a firm's average cost function. AC(q) =
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Please show the work step by step, thank you.
3. Given below is a firm's average cost function. AC(q) = 3000 - q + (3q - 200)2 a) Calculate the economies of scale when q = 50 and q = 100. What does this imply about output at each of these points? b) Find the minimum of the average cost function and determine the economies of scale thereStep by Step Solution
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