#31 long-run cost curves | TC, AC, MC | by Hardev Thakur
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In this video, we have talked about what is cost function and what are its type i.e. short Run and long-run cost function. We also revised our last video about short-run cost function in which we discussed about Total Cost (TC), Total Fixed cost (TFC), Total variable cost (TVC), Average total cost (ATC), Average Fixed Cost (AFC), Average Variable Cost (AVC), and MArginal cost curves (MC). after that, we talked about long-run cost curves i.e. Long Run Average cost Curve (LAC), Long Run Marginal Cost Curves (LMC), Long-Run Total Cost Curves (LTC). In the end, we discussed some important points to remember about cost curves or we can say long-run cost curves.
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You can Attempt the quiz for the long Run here :
letsdiscusseconomics.blogspot...
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