Tackle the Test: Free-Response Questions

571

  1. Question

    Refer to the graph provided to answer the following questions.

    image
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    Rubric for FRQ 1 (5 points)

    1 point: 6

    1 point: economies of scale

    1 point: Because at an output of 3, the LRATC is decreasing.

    1 point: In the long run the firm will produce on ATC9.

    1 point: In the long run the firm will produce at point X.

  2. Question

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