What Factor Is Important in Determining the Shape of Short

question 115

Essay

What factor 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 curve? What are the most important factors in determining the shape of the long-run cost curve? Explain.

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Definitions:

Id

A component of Sigmund Freud's psychoanalytic theory, representing the set of uncoordinated instinctual desires driving individuals from birth.

Temper Tantrums

Emotional outbursts, typically characterized by yelling, crying, or stomping, often exhibited by young children as a response to frustration or unmet desires.

Impulsively

Acting or doing something suddenly and without careful thought or planning, often driven by immediate desires or emotions.

Defence Mechanisms

Unconscious psychological strategies that protect individuals from anxiety and the perception of internal or external stresses.