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Suppose that the long-run total cost function for a firm is a TC=32,0000-250Q2+Q3
Suppose that the long-run total cost function for a firm is a TC=32,0000-250Q2+Q3. At what levels of output will the firm face economies of scale? Diseconomies of scale? (Hint: minimum AC occurs when MC=AC; equally, it occurs when the slope of the AC curve is žero)
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