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Indicate whether each of the following involves an upward or downward shift in the long-run average cost curve or, instead, involves a leftward or rightward movement along a given curve. Also indicate whether each will have an increasing, decreasing or uncertain effect on the level of average cost.
A rise in wage rates.
A decline in output.
An energy-saving technical change.
A fall in interest rates.
An increase in learning or experience.
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