Question: This question combines the various concepts from Questions 9 and 10. a. Draw a diagram with short-run and long-run average cost curves that illustrates for

This question combines the various concepts from Questions 9 and 10.
a. Draw a diagram with short-run and long-run average cost curves that illustrates for the same level of output economies of scale in the long run but diminishing marginal product for the variable factor in the short run.
b. Draw a diagram with short-run and long-run average cost curves that illustrates for the same level of output diseconomies of scale in the long run but falling average total costs in the short run.

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