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23. Relating short run and long run cost curves

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Published on Jan 27, 2010

In this video, I demonstrate the relationship between long run and short run cost curves. To do this, I use an isocost and isoquant diagram to shed light on how fixing capital in the production process affects cost curves.

For a list of videos and links to these videos (organized by topic), check out the Intromediate Microeconomics video web page:

http://blog.thisyoungeconomist.com/p/...

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