Examlex
Which of the following might be used to hedge exposure in the long run?
Long-Run Curve
The graphical representation in economics of the relationship between output and input when all inputs are variable, showing potential economies of scale.
Marginal-Cost Curve
A graph that displays the cost of producing one additional unit of a good or service.
Average-Total-Cost Curve
A graph that displays the mean total cost of manufacturing across various output quantities, generally characterized by a U-shape because of the effects of economies and diseconomies of scale.
Long-Run Time Period
A duration in economics where all factors of production and costs are variable, allowing for complete adjustment.
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