Economics A Level (DONEEEEEEE): What is the Firm’s Long Run Average Cost?

Question

What is the Firm’s Long Run Average Cost?

eric_galvao · Accepted Answer

-LRAC shows off the Minimum AC at each level of Production.
-It follows the lowest Point of each SRAC.
-LRAC can show the Point where the Firm’s Maximum Productive Efficient point is. Just how SRAC is a U Shape, an LRAC is too.

Economics A Level (DONEEEEEEE)

What is the Firm’s Long Run Average Cost?

-LRAC shows off the Minimum AC at each level of Production. -It follows the lowest Point of each SRAC. -LRAC can show the Point where the Firm’s Maximum Productive Efficient point is. Just how SRAC is a U Shape, an LRAC is too.

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