Deduce equation-corresponding long-run average cost curve
A firm's long-run total cost curve is TC(Q) = 100Q 0.5 . Derive the equation for the corresponding long-run average cost curve. Does the firm's marginal cost curve lie above, below or on the firm's average cost curve.
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Deduce equation for corresponding long-run average cost curve. Does firm's marginal cost curve lie above, below or on firm's average cost curve.
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