ong-run min ATC=107 which is reached when you produce q = 10 a) What is your long-run firm supply curve? (b) Assume a perfectly competitive constant cost industry with identical firms. What is ma supply curve?

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Short-Run Costs and Long-Run Costs

Cost of short-run and the long-run is an economic term that describes the cost involved in the production of goods in a firm in the short as well as long period.