Chapter6: Proudction Costs
Section: Chapter Questions
Problem 24SQ
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Afirm’s LAC curve is U-shaped and has its minimum point at an output of 25000 units per week.In the short-run the firm has a U-shaped SAC that coincides with the LAC atan output of 30,000 units per week? .
b.Is SMC greater than, equal to or less than LMC at an output of 29,999 units per week?. Prove your answer
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