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10 cards from this deck
LRAC per unit falls as firm increases size
LRAC per unit rises when firm grows beyond optimal size
LRAC changes from changes in individual firm's size
Firm's costs fall due to entire industry expansion
Tank doubles, capacity increases eightfold
Bulk-buying and bulk-marketing advantages
Large firms borrow at lower interest rates
Cheaper to produce range of products together
Administration becomes difficult as firm grows larger
Lowest output where LRAC reaches minimum
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