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Chapter 9:

Chapter 9:. Short-Run Shut Down and Long-Run Production Concepts. Key Topics. SR production Profits in P, ATC graph Shut down condition (loss min.) Firm & industry supply curves LR production Isocost lines & LR cost min. (Ch. 6 Appendix) Returns to scale and LRAC Equilibrium.

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Tc2 tc1 l l - PowerPoint PPT Presentation

Chapter 9: