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Advanced Microeconomics Theory(Costs)
- Presentation • 12 pages • 2019
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In the theory of firm the distinction between short run and long run production costs is not necessarily based on the length of time. It is rather based on the degree of the variability of inputs.
These two concepts also based on their flexibility and rigidity to the changing nature of the firm’s scale of operation.
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Advanced Microeconomics Theory(Costs)
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ago
In the theory of firm the distinction between short run and long run production costs is not necessarily based on the length of time. It is rather based on the degree of the variability of inputs.
These two concepts also based on their flexibility and rigidity to the changing nature of the firm’s scale of operation.
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Do you wonder why so many students wear nice clothes, have money to spare and enjoy tons of free time? Well, they sell on Stuvia! Imagine your study notes being downloaded a dozen times for $15 each. Every. Single. Day. Discover all about earning on Stuvia
Do you wonder why so many students wear nice clothes, have money to spare and enjoy tons of free time? Well, they sell on Stuvia! Imagine your study notes being downloaded a dozen times for $15 each. Every. Single. Day. Discover all about earning on Stuvia