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Define Short run cost, and also explain Cost output relationship in short run using with diagram.
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written 2.9 years ago by
prajapatijaimin
• 3.3k
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Solution:
Short-run cost:
Short-run is a period where the time is too short to expand the size of the industry and the increased demand has to be met within the existing size of industry because certain factors cannot be changed in short run.
So short-run costs are those which vary …
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