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The values for the long-run ATC curves of three different firms are listed in the table below:
Quantity
ATC 1
ATC 2
ATC 3
5
10
7
12
8
6
9
15
20
25
30
4
35
13
40
17
(a) Which firm faces the lowest minimum ATC?
(b) Which firm has the greatest minimum efficient scale?
(c) Which firm has the smallest economies of scale?
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