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What Is the Shape of the Long-Run Average Cost Curve

question 23

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What is the shape of the long-run average cost curve under conditions of economies of scale?


Definitions:

Earthworm

A terrestrial invertebrate belonging to the phylum Annelida, known for its role in aerating the soil and enhancing soil fertility.

Bladder

A hollow organ in the lower abdomen that stores urine from the kidneys before disposal.

Excretion

The biological process by which organisms remove waste products from their bodies to maintain homeostasis.

Urine

Fluid that consists of water and soluble wastes; formed and excreted by the vertebrate kidneys.

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