What is the long run cost?
Definition: The Long-run Cost is the cost having the long-term implications in the production process, i.e. these are spread over the long range of output. ... In the long run, even the fixed cost becomes the variable cost as the size of the firm or scale of production increases.
Related posts:
- What happens when demand is low? - Equilibrium is the point where demand for... (Read more)
- What are the 3 types of demand? - Joint demand. Joint demand is the demand... (Read more)
- What does short demand mean? - When economists talk about quantity demanded, they... (Read more)
- What is long run demand? - LONG RUN DEMAND long-run demand is that... (Read more)
- How long is long run? - The long run is generally anything from... (Read more)
- How do you know if its short run or long run? - Differences. The main difference between long run... (Read more)
- What is Long Run example? - A long run is a time period... (Read more)
- What is long run supply curve? - Corresponding to OP price, the long-run supply... (Read more)
- What is long run equilibrium? - The long-run equilibrium of a perfectly competitive... (Read more)
- What is the difference between long run and short run equilibrium? - In other words, the intersection of aggregate... (Read more)