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The table illustrates the long-run average cost values for the refrigerator industry

Accounting

The table illustrates the long-run average cost values for the refrigerator industry. Use the table to answer the three corresponding questions.

 

  Quantity Produced Long-Run Average Cost
A 10,000 $1,200
B 20,000 $900
C 30,000 $700
D 40000 $700
E 50,000 $800
F 60,000 $1,000

Which section of the firm's long run average cost curve demonstrate:

a. Economies of scale.

b. Constant return of scale.

c. Diseconomies of scale.

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