This unit describes key characteristics governing how firms, Business Economics

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This unit describes key characteristics governing how firms

This unit describes key characteristics governing how firms operate in the short run and the long run. Perhaps the most important concepts in the unit are the shapes and the logic of the short-run and long-run cost curves. Can you explain why average cost is at a minimum when marginal cost equals average cost?

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Business Economics: This unit describes key characteristics governing how firms

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