Long Run And Short Run Average Cost Curves
Long Run And Short Run Average Cost Curves . Hence, the mc or marginal cost curve cuts the average cost curves from below at their minimum points. Deriving a long run average cost curve. Why are both the shortrun and the longrun average cost curves u from www.quora.com In the short run, a firm can operate on any sac, given the size of the plant. At the point where mc=avc, the avc is at its minimum and the mc cuts it from below. Average fixed cost or afc is the fixed cost per unit of output (q).