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Profit Maximization

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"And they also say that the growth of promising but costly technologies like supercomputers and aircraft have begun to test the classical view of competition among nations, because no more than a few nations might ever establish footholds in industries born of these technologies."

How might we interpret this statement in terms of cost curves and revenue curves?

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Solution Summary

The solution explains the concepts of cost curves and revenue curves very well through the attachment. The statement in the question is elaborated in the attachment and concepts are explained very well. Overall, a very detailed response to the question which makes it easy for any student to understand the concepts.

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