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    Lon Run Average cost curve

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    I. What assumption gives rise to a U-shaped long run average cost curve for the firm? (Describe shortly)

    II.What ways firms in on oligopoly try to elminate or control the consequences of this charcteristic?

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    https://brainmass.com/economics/output-and-costs/22420

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    The average variable cost curve is U-shaped because of the following reasons: Average variable cost is relatively high at small quantities of output, then as production ...

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