![Draw the short run marginal cost & Average cost curve. Explain the relationship between marginal cost and average cost.? | Homework.Study.com Draw the short run marginal cost & Average cost curve. Explain the relationship between marginal cost and average cost.? | Homework.Study.com](https://homework.study.com/cimages/multimages/16/screen_shot_2019-03-10_at_8.04.03_pm8907907340326640871.png)
Draw the short run marginal cost & Average cost curve. Explain the relationship between marginal cost and average cost.? | Homework.Study.com
![Draw the short-run and long-run cost curves for a competitive firm in long-run equilibrium. Indicate the long-run equilibrium price and quantity. a. Discuss the firm's short-run response to a reduction in the Draw the short-run and long-run cost curves for a competitive firm in long-run equilibrium. Indicate the long-run equilibrium price and quantity. a. Discuss the firm's short-run response to a reduction in the](https://homework.study.com/cimages/multimages/16/mc_mrrr2307688309515194341.jpeg)
Draw the short-run and long-run cost curves for a competitive firm in long-run equilibrium. Indicate the long-run equilibrium price and quantity. a. Discuss the firm's short-run response to a reduction in the
![microeconomics - Why is the short run average cost curve not a tangent to the long run average cost curve at the lowest point on the short run average cost curve? - microeconomics - Why is the short run average cost curve not a tangent to the long run average cost curve at the lowest point on the short run average cost curve? -](https://i.stack.imgur.com/4lQBF.png)
microeconomics - Why is the short run average cost curve not a tangent to the long run average cost curve at the lowest point on the short run average cost curve? -
![Identify the general shape of short-run average cost and short-run marginal cost curves. | Homework.Study.com Identify the general shape of short-run average cost and short-run marginal cost curves. | Homework.Study.com](https://homework.study.com/cimages/multimages/16/image7232819214989863588.jpg)