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9.3: Introduction to Production and Costs in the Long Run

  • Page ID
    48403
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    What you’ll learn to do: examine production choices in the long run

    Three green twelve ounce bottles on a production line. The bottles are being filled with a liquid.

    In the long run, because there are no fixed inputs, firms have more options about how to produce their products. As a result, we will see that long run costs are typically less than short run costs.

     

    Contributors and Attributions

    CC licensed content, Original
    • Introduction to Production and Costs in the Long Run. Authored by: Steven Greenlaw and Lumen Learning. License: CC BY: Attribution
    CC licensed content, Shared previously

    9.3: Introduction to Production and Costs in the Long Run is shared under a not declared license and was authored, remixed, and/or curated by LibreTexts.

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