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    Microeconomics Study Set 3
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    Exam 7: Costs
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    Explain Why the Long-Run Total Cost Curve,not the Short-Run Total
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Explain Why the Long-Run Total Cost Curve,not the Short-Run Total

Question 2

Question 2

Essay

Explain why the long-run total cost curve,not the short-run total cost curve,shows the lowest cost of producing any level of output.Is there an exception?

Correct Answer:

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