MICROECONOMICS
MICROECONOMICS
11th Edition
ISBN: 9781266686764
Author: Colander
Publisher: MCG
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Chapter 12, Problem 17QE
To determine

Explain the long run average total costs.

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Students have asked these similar questions
What are economies and diseconomies of scale? How do they arise? What do they imply for the shape of the long-run average cost curve?
Why will firms in most markets be located at or close to the bottom of the long-run average cost curve?
If you assume that a firm has a U-shaped average cost curve, why would large and small firms have higher costs than middle-sized firms?
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