Explain the factors that affect the firm's total cost, and
explain the behaviour of a typical...
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Economics
Explain the factors that affect the firm's total cost, andexplain the behaviour of a typical firms costs in the short run andlong run. In addition, what determines the behaviour of a typicalfirm's costs in the short run and long run.
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The factors that affect the firms total cost are rate of outputsize of the plant prices of inputsTechnology efficiency of managenment size of production etc The rate of output affects toatl cost as marginal cost increases as output increases above a levelTechnological changes increases productivity and
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