Question: Q3. (a) (b) A bigger rm always have lower average costs of production than a small rm. Provide your arguments why this statement is correct.

Q3. (a) (b) A bigger rm always have lower average costs of production than a small rm. Provide your arguments why this statement is correct. Also, what are the opposing arguments for this statement? (10 marks) Small companies can compete successfully against large companies Provide your arguments why' this statement is correct. Also, what are the opposing arguments for this statement? (10 marks)

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