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Relationship between long-run and short-run total cost curve

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Reference no: EM131424172

Draw a diagram with cost curves illustrating the relationship between long-run and short-run total cost curves. Explain the tangencies between the long-run and short-run total cost curves in this diagram using another diagram containing isoquants and the expansion path. Make your diagrams large and label all curves, axes, and points.

Reference no: EM131424172

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