Title: One can tell that Figure 8.4 shows short run costs because:
Post by: Gideon123 on Jul 22, 2019
One can tell that Figure 8.4 shows short run costs because:
▸ costs are rising.
▸ the slope of total costs and variable costs are the same.
▸ total costs are positive when output is zero implying fixed costs.
▸ all of the above.
Title: One can tell that Figure 8.4 shows short run costs because:
Post by: linds on Jul 22, 2019
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Title: One can tell that Figure 8.4 shows short run costs because:
Post by: Gideon123 on Jul 22, 2019
Thank you, thank you, thank you!