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What is the use of long-run average total cost curve in the producing output?
The long-run average total cost curve demonstrates the relationship in between output and average total cost while fixed cost has been selected to minimize average total cost for every level of output.
Short-Run and Long-Run Average Total Cost Curves
Which is better meausute of welfare?
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When single business or corporation dominates its area and squeezes out all its competition, the result is the consumer does not have a open choice, and inevitably, the price of it
circular flow of national income?
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