Different shape of cost curves are called _________.

Empirical cost curves

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Implicit cost curves

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Explicit cost curves

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Long-run cost curves

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Solution

The correct option is A Empirical cost curves
Different shape of cost curves are called Empirical cost curves. Empirical implies that initially the long-run average cost rapidly falls but after a point it remains flat throughout.

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Different shape of cost curves are called _________.

The correct option is A Empirical cost curvesDifferent shape of cost curves are called Empirical cost curves. Empirical implies that initially the long-run average cost rapidly falls but after a point it remains flat throughout.

The correct option is A Empirical cost curves
Different shape of cost curves are called Empirical cost curves. Empirical implies that initially the long-run average cost rapidly falls but after a point it remains flat throughout.