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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
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explain the profit maximizing/loss minimizing rule may be applied under the 3 scenarios
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Explain how inflation unemployment trade-off is not feasible under adaptive expectation.MEC002
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