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What would be the answer to this question. Please explain step by step. Question: The total cost of producing one unit is $100. The total
What would be the answer to this question. Please explain step by step.
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The total cost of producing one unit is $100. The total cost of producing two units is $125.The total cost of producing three units is $150. At a production level of three units, the cost function exhibits
Select one:
a. constant returns to scale
b. rising total costs
c. economies of scale
d. increasing marginal costs
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