Question: (c) Illustrate on an isoquant/isocost graph the difference between your answers to part a and b. Explain intuitively why long run costs should always be

(c) Illustrate on an isoquant/isocost graph the
(c) Illustrate on an isoquant/isocost graph the difference between your answers to part a and b. Explain intuitively why long run costs should always be lower than Short run costs

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