[Solution Library] What factor is important in determining the shape of short run cost curves (marginal cost, average cost) but plays no role in determining the


Question: What factor is important in determining the shape of short run cost curves (marginal cost, average cost) but plays no role in determining the shape of long-run cost curve? What are the most important factors in determining the shape of the long-run cost curve? Explain. (2 marks)

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