Question: 5. A firm has a long run cost function given by C(y) = 200 +- 2y'. Sketch the associated long run AC curve. On your

5. A firm has a long run cost function given by

C(y) = 200 +- 2y'. Sketch the associated long run AC curve.

5. A firm has a long run cost function given by C(y) = 200 +- 2y'. Sketch the associated long run AC curve. On your graph include a short run AC curve at y - 5. Explain why the SRAC has the shape you sketched

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