Short-Run and Long-Run Cost Curves Assignment Help

Short-Run and Long-Run Cost Curves Assignment Help
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What is Meant by Short-Run and Long-Run?

Before jumping onto the core concept of understanding the basic cost curves, it is essential to know the difference between short-run and long-run. Short-run is referred to as the time period of time that favours a company to set its output on varying scales by altering the variable factors, such as labour, cost, and raw material (leaving the fixed factors that include capital equipment, factory buildings, management personnel, among others). So, for a firm it is essential to add more manpower to increase the amount of product.

On the contrary, long-run is a specific time period within which both the fixed as well as variable factors can be adjusted. So, long-run operation facilitates a company to enhance the level of output by adding more capital equipment or expanding the size of existing plant. Now once students have clarity on the basic differentiation between the short run and long run factors, they need to study the integral aspects covered in the Short-Run and Long-Run Cost Curves assignment help.

What is the Difference Between Short-run Fixed and Variable Costs?

Students who need guidance for dealing with Short-Run and Long-Run Cost Curves homework writing help must learn how to distinguish between variable costs and fixed costs. The short-run cost curves depict a firm’s position it adjusts its total output as per the demand by taking into account a number of variable factors. So, in case all the production factors are employed in different proportions, it becomes easier for the firm to alter its operation scale. So, with the change in scale of operations, a firm draws new short-run cost curve that can be tagged as SAC”, SAC’, and SAC” for respective differentiation.

Short-Run and Long-Run Cost Curves Assignment Writing Help Explains the Concept as to Why Long-Run Cost Curves are U-Shaped?

It is simply explained by the concept that as and when output is increased, each unit falls with respect to cost till it reaches its minimum bar. At this stage, it starts to climb which leaves it in the form of U. also, the fall in the cost curve falls is due to differentiation between the various economics of scale. But with the increased scale of output when the firm has expanded to an extent, therefore the economies are altered into diseconomies post which the cost curve tends to go up. If you are seeking the best assignment writing help on Short-Run and Long-Run curves, then get in touch with BookMyEssay team.

Cost Involved in Short Run Curves Assignment Writing

  • Short Run Average Cost Curve: While in the short run, the ATC, average total cost curve which is U-shaped. While in the short run, the average cost curve tends to shift downward in the initial stage that when it reaches its lowest tends to rise again. The core reason behind the fall of average cost curve in the production level is that the fixed factors of a firm.

Eventually, when the fixed cost is distributed on the output when the production is expanded, which at last begins to fall. In a situation, wherein a firm utilizes its high-end scale of operation, the average cost is set at its minimum. In the cost curve, firm tends to operate onto its optimum capacity.

  • Long Run Average Cost Curve: While set in the long run, the firm costs are set variable. Also, some additional production factors which is used in different proportions with added output. While a firm operates in the long time-period which is built on a greater scale or various types of plant that helps in producing the expected output. The given shape of long run average cost curve is U-shaped which is also flatter as compared to the short run curve. In the long-Run Costs: The Planning Horizon that is a popular production theory which is referred to ‘some future date’. Also, in the long run is hinted as a time period within which all inputs can be set in varying proportions.

BookMyEssay Delivers High Class Short-Run and Long-Run Cost Curves Essay Writing Help

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