Q1. We classify Three Possible Long-Run Average Cost Curves for a Multiplant Firm; given the following three cost curves/ quantity ...classify the type of those long run average cost Cost per unit Cost per unit Cost per unit at Long-run average cost Q"F Output Long-run average co Output Long-run average cost Q*=Q°F Output

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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.