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The following figure shows the long-run average cost curve for a tire manufacturer and the long run average cost curve for a rubber producer. Which of the following can be concluded from the information provided in the figure given below?
Figure 14.1
Air Freight
The transportation of goods by aircraft, a fast but usually more expensive mode of shipping compared to road or maritime transport.
Coastal Ports
Harbors or docks located along the coastlines that serve as points for the arrival and departure of ships and goods.
Silica Sand
High-purity sand that is made predominantly of quartz silt and is used in various industries such as glass making and hydraulic fracturing.
Glass Manufacturing
The process of producing glass products, which involves melting silica sand and other raw materials to form glass, which is then shaped into desired forms.
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