Why Is the Long-Run Average Cost Curve Important to a Firm

question 138

Essay

Why is the long-run average cost curve important to a firm?

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Definitions:

Spiritual

Pertaining to, or affecting the human spirit or soul as opposed to material or physical things.

Physical

Referring to the bodily aspects or pertaining to the material world, often contrasted with the mental or spiritual.

Legal

Pertaining to the law or the system of rules that a particular country or community recognizes as regulating the actions of its members and may enforce by the imposition of penalties.

Social

Relating to society or its organization, or the interactions among individuals within a community.