Question: Suppose that the minimum level of short-run average cost was the same for every possible plant size. What would that tell you about the shapes
Suppose that the minimum level of short-run average cost was the same for every possible plant size. What would that tell you about the shapes of the long-run average and long-run marginal cost curves?
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The longrun average cost curve is the envelope to the shortrun average cost curves associated wit... View full answer
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