Economy, asked by endi, 11 months ago

why LAC is U shaped

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Answers

Answered by morganpettry

6

LAC curve is derived from short run average cost curves. Whereas LAC is a continuous curve. The reason behind the U-shape of the curve is the Law of Returns to Scale. According to this law, as plant size increases, the average cost of production decreases due to economies of scale.

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Answered by aayat90

5

I think it's helpful for you ✌️✌️✌️

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