Principles of Microeconomics
Principles of Microeconomics
How and why does a firm’s average-total-cost curve differ in the short run compared with the long run?
An average total cost curve difference in the short run and long run.
An average total cost is differing from the short run and the long run because in the long run, a firm can adjust the factors of production, but in the short run, all the factors of production are fixed and cannot increase the size of the factory...
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