Unformatted text preview: • Per unit cost is falling because you’re producing more quantity faster than your cost. • Long- run ATC curve is the envelope around the various short- run ATC curves • Economies of scale- when you get bigger and able to produce things cheaper • Diseconomies of scale- when you get bigger but cost/ unit increases...
View Full Document
- Spring '07
- Economics, Economics of production, Cost curve, Cost Curves Change