Theory of costs
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Advanced Microeconomics Theory(Costs)
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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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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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$6.50 for your textbook summary multiplied by 100 fellow students... Do the math: that's a lot of money! Don't be a thief of your own wallet and start uploading yours now. Discover all about earning on Stuvia