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Ac 10 wagons - PowerPoint PPT Presentation

Production and Cost in the Long Run Overheads

Production and Cost in the Long Run Overheads. The long run. In the long run, there are no fixed inputs or fixed costs; all inputs and all costs are variable. The firm must decide what combination of inputs to use in producing any level of output. Cost minimization assumption.

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Ac 10 wagons - PowerPoint PPT Presentation

Production and Cost in the Long Run Overheads