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Kindly give brief expalantion per the ff. answer. thank u 26. The long-run A. Economies of scale US$/t average cost B. Diseconomies of scale 260

Kindly give brief expalantion per the ff. answer. thank u

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26. The long-run A. Economies of scale US$/t average cost B. Diseconomies of scale 260 curve on the left illustrates C. Constant returns to scale 240 D. Marginal returns 27. The curve on A. Market for iron ore 220 the left most B. Market for plastic cups 1400 1600 1800 Catch (W/year) likely describes C. Market for bananas Use this graph for #26 and #27 D. Market for rice 28. In a short-run production function of a perfectly competitive A. Constant firm, we expect average cost and average variable cost to be B. Increasing at a point where marginal cost is C. Decreasing greater than average cost. D. Zero 29. Which of the following costs continuously decrease as a A. Short-run average total cost firm's output increases? B. Long-run average total cost C. Average variable cost D. Average fixed cost 30. As opposed to a perfectly competitive industry, a profit- A. lower; higher maximizing monopoly with identical costs of production B. higher; lower will produce output and charge a C. lower; lower price. D. higher; higher 31. Over the last few decades, a shift in the consumption A. Increase measured GDP habits of Filipinos led them to eat a greater amount of fast B. Reduce measured GDP food than home-cooked meals. All other factors held C. Maintain constant GDP constant; we expect this to D. Have no effect on GDP 32. refers to the goal of macroeconomics A. Sustained growth that aims to heighten availability of good jobs, and B. Price stability maximum use of a country's human resources for C. Boom-bust cycle providing for everyone's wants and needs. D. Full employment

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