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123lol456 123lol456
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A year ago
The long-run average cost (LRAC) curve for a firm shows

▸ what happens to the fixed costs in the long run.

▸ the highest unit costs of producing a given output.

▸ the lowest unit cost at which the firm can produce a given output.

▸ the same cost and output levels as the short-run average cost curve.

▸ the operation of the law of diminishing returns.
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
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JulzMarieJulzMarie
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A year ago
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123lol456 Author
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A year ago
Smart ... Thanks!
avance37
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Yesterday
This calls for a celebration Person Raising Both Hands in Celebration
wyq2651
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2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
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