Economics in Plain English » From short to long: Economies of scale and the long-run average total cost curve
![Draw the short-run and long-run cost curves for a competitive firm in long- run equilibrium. Indicate the long-run equilibrium price and quantity. a. Discuss the firm's short-run response to a reduction in the Draw the short-run and long-run cost curves for a competitive firm in long- run equilibrium. Indicate the long-run equilibrium price and quantity. a. Discuss the firm's short-run response to a reduction in the](https://homework.study.com/cimages/multimages/16/mc_mrrr2307688309515194341.jpeg)
Draw the short-run and long-run cost curves for a competitive firm in long- run equilibrium. Indicate the long-run equilibrium price and quantity. a. Discuss the firm's short-run response to a reduction in the
![22.2 Aggregate Demand and Aggregate Supply: The Long Run and the Short Run – Principles of Economics 22.2 Aggregate Demand and Aggregate Supply: The Long Run and the Short Run – Principles of Economics](https://open.lib.umn.edu/app/uploads/sites/180/2016/05/b702d975e70a4c11a2901f473affd106.jpg)
22.2 Aggregate Demand and Aggregate Supply: The Long Run and the Short Run – Principles of Economics
![microeconomics - Why is the short run average cost curve not a tangent to the long run average cost curve at the lowest point on the short run average cost curve? - microeconomics - Why is the short run average cost curve not a tangent to the long run average cost curve at the lowest point on the short run average cost curve? -](https://i.stack.imgur.com/4lQBF.png)
microeconomics - Why is the short run average cost curve not a tangent to the long run average cost curve at the lowest point on the short run average cost curve? -
![22.2 Aggregate Demand and Aggregate Supply: The Long Run and the Short Run – Principles of Economics 22.2 Aggregate Demand and Aggregate Supply: The Long Run and the Short Run – Principles of Economics](https://open.lib.umn.edu/app/uploads/sites/180/2016/05/ce3510c78b78727d6ae6b470a9693d3d.jpg)