2. Consider the following table of long-run total costs for three different firms Quantity 0 1...
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2. Consider the following table of long-run total costs for three different firms Quantity 0 1 2 3 4 5 6 7 Firm A $60 $70 $80 $90 $100 $110 $120 Firm B - 11 24 39 56 75 96 119 a) Identify with calculations the firm that exhibit 1. Economies of scale, 2. Diseconomies of scale. 3. Both economies & diseconomies of scale Firm C - 21 34 49 66 85 106 129 9 marks 2. Consider the following table of long-run total costs for three different firms Quantity 0 1 2 3 4 5 6 7 Firm A $60 $70 $80 $90 $100 $110 $120 Firm B - 11 24 39 56 75 96 119 a) Identify with calculations the firm that exhibit 1. Economies of scale, 2. Diseconomies of scale. 3. Both economies & diseconomies of scale Firm C - 21 34 49 66 85 106 129 9 marks
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