What Concept Is Important in Determining the Shape of Short

question 20

Essay

What concept is important in determining the shape of short run cost curves (marginal cost, average cost) but plays no role in determining the shape of long-run cost curves? What are the most important factors in determining the shape of the long-run cost curves? Explain.

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Definitions:

Promote

In the context of structured data and outlines, to elevate the rank or level of an item, making it a higher-level entry in a hierarchical structure.

Demote

In outline or hierarchy structures, to lower the rank or position of an item within a structured list or diagram.

Right Tab Stop

A tab stop type in text editing, aligning the text to the right at a set position on the ruler.

Distribute Rows

An action in spreadsheet and design software that evenly spaces rows within a selected range or area.