What do the short run marginal cost, ave...

What do the short run marginal cost, average variable cost and average cost curves look like? Why?

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These are 'U'-shaped. This is because of application of law of variable proportions.

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Briefly explain the concept of cost function.
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What are total fixed cost, total variable cost and total cost of a fir...
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Can there be some fixed cost in the long run? If not, why?
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What does average fixed cost curve look like? Why does it look so?
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What do the short run marginal cost, average variable cost and average...
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Why is short run marginal cost curve 'U'-shaped?
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What do long run marginal cost and average cost curves look like?
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Why does the SMC curve cut the AVC curve at the minimum point of the A...
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Where does SMC curve cut AC? Give reasons to support your answer.
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