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QUESTION #5 (8 pts) a. What distinguishes the long run from the short run? b. Draw a long-run planning curve made up of 4 short-run

QUESTION #5 (8 pts) a. What distinguishes the long run from the short run? b. Draw a long-run planning curve made up of 4 short-run average cost curves. Label increasing, constant, and decreasing returns to scale

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