Microeconomics

Learn the toughest concepts covered in Microeconomics with step-by-step video tutorials and practice problems by world-class tutors

The Costs of Production

Average Total Cost: Short Run and Long Run

Next Topic
1

concept

ATC in the Short Run and Long Run

clock
13m
Play a video:
Was this helpful ?
0
2
Problem

A short-run production function assumes that

3
Problem

Which of the following is TRUE?

4
Problem

If a higher level of production allows workers to specialize in particular tasks, a firm will likely exhibit ______________ and ________________ average total cost.