If the Long-Run Average Total Cost Curve Is Flat, Then

question 37

Essay

If the long-run average total cost curve is flat, then what does this imply about specialisation? What will be the firm's efficient scale?

---

Definitions:

Commission Calculation

The process of determining the fee paid to a salesperson or agent for services rendered, typically a percentage of the sale price.

Linear Equation

A mathematical equation consisting of terms that are either constants or products of a constant multiplied by a single variable.

Linear Equations

Mathematical statements that show the relationship between two variables using a straight line when plotted on a graph.

Linear Equation

An algebraic equation in which each term is either a constant or the product of a constant and a single variable.