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PLEASE EXPLAN ANSWERS THANK YOU Questions 22 to 27 relate to the graph above. 22. Which of the curves is most likely to characterize the

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PLEASE EXPLAN ANSWERS

THANK YOU

Questions 22 to 27 relate to the graph above. 22. Which of the curves is most likely to characterize the short-run average total cost curve of the smallest factory? 23. Which curve represents the long-run average total cost? 24. In the long run, the firm can operate on which of the four average total cost curves? 25. At which output levels does the firm experience economies of scale? 26. At which output levels does the firm experience constant returns to scale? 27. At which output levels does the firm experience diseconomies of scale

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