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Question 1: Fill in the blanks for the following table. (7 marks) VC TC AFC AVC ATC Q 0 MC o 0 n/a n/a n/a

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Question 1: Fill in the blanks for the following table. (7 marks) VC TC AFC AVC ATC Q 0 MC o 0 n/a n/a n/a 1 10 10 2 30 3 20 4 100 5 30 I 6 35 Question 2: Briefly explain (within 40 words) why economies of scale occur

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