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AP Microeconomics
Unit 3 – Production, Cost, and the Perfect Competition Model
Topic 3.3
In the long run, firms can change both their plant capacity and output level. This flexibility allows firms to?
Minimize average variable cost.
Fix the factors of production.
Analyze and compare average total cost at each plant capacity.
Focus on maximizing marginal cost.
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AP Microeconomics - 3.3 Long-Run Production Costs
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About Us
About Fiveable
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Careers
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Terms of Use
Privacy Policy
CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Crisis Text Line
Request a Feature
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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