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The graph on the right shows the long-run average total cost curve for a perfectly competitive firm. Refer to points A, B, and C on
The graph on the right shows the long-run average total cost curve for a perfectly competitive firm. Refer to points A, B, and C on the graph and identify where the firm would experience economies of scale, constant returns to scale, and diseconomies of scale. At point A, the firm experiences I:I At point B, the firm experiences I:I At point C, the firm experiences |:| diseconomies of scale constant returns to scale economies of scale Price G Long-Run ATC A C Quantity
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