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Question 22 Economies of scale are best described as which of the following? O The average cost remains constant as output increases O The average

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Question 22 Economies of scale are best described as which of the following? O The average cost remains constant as output increases O The average cost curve takes the form of a U-shape The average cost declines as output increases The average cost increases as output increases O The average costs are cheaper when a firm produces a wider variety of goods

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