Question

Deffernce bettween traditional and modern
theory ?​

Answer 1

Answer:

The main difference between traditional and modern theory of cost is that whereas traditional theory (also known as short run cost curve) of cost total fixed cost is graphically denoted by parallel line to the output axis and total variable cost is graphically S-shaped, the modern theory of cost is L-shaped

Answer 2

The main difference is that where as traditional theory (known as short run cist curve) of cost total fixed cost is graphically denoted by parallel line to the output axis.