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LONG-RUN COSTS

LONG-RUN COSTS. In the long-run there are no fixed inputs, and therefore no fixed costs. All costs are variable. Another way to look at the long-run is that in the long-run a firm can choose any amount of fixed costs it wants for making short-run decisions. Cost Minimization.

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Lrac q - PowerPoint PPT Presentation

LONG-RUN COSTS