Chapter 3 Tutorial 1

1. Short Run MC will always intersect the Long Run MC at the same level of output at which the Short Run AC equals the Long Run AC. True or False. Explain.

Yeap! This is always true! You just have to produce the following graphs to show why.

Download the PPT slides which shows you the drawings step by step!

C3T1a

C3T1b

C3T1c

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