MICROECONOMICS
MICROECONOMICS
11th Edition
ISBN: 9781266686764
Author: Colander
Publisher: MCG
Question
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Chapter 12, Problem 9QE
To determine

Explain why the long-run cost is less than or equal to the short-run cost.

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What factors account for a fall in the long-run cost curve?
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If the marginal cost is increasing, do you know whether average variable cost is increasing or decreasing? Explain.
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