Question

average cost curve is____​

Answer 1

Explanation:

Long run average cost curve is flatter than the short run average cost curve, because short run average cost curve relates to one plant, or the constant scale of output. Long run average cost curve, on the other hand, relates to several plants or the expanding scale of output.

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Answer 2

Answer:

The average total cost curve is typically U-shaped. Average variable cost (AVC) is calculated by dividing variable cost by the quantity produced. The average variable cost curve lies below the average total cost curve and is typically U-shaped or upward-sloping.