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Economics and the 2008 crisis: a Keynesian view

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7.4 Cost curves

This section uses the concept of the short run and long run to understand the cost curves of a firm. It looks at long run average cost (LRAC) curves first, and then looks at short run average cost (SRAC) curves.

Previous Economists and time

Next Long run average cost (LRAC) curves

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7.4 Cost curves