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Question #1 Part(A): .What are economies and diseconomies of scale? What are the factors responsible for economies and diseconomies of scale? (You may use a

Question #1

Part(A):.What are economies and diseconomies of scale? What are the factors responsible for economies and diseconomies of scale? (You may use a graph to explain your answer).

Part(B):What are the main barriers to entry into an industry? What barriers, if any, do you think give rise to monopoly that is socially and economically justifiable?

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