Long run average total cost curve | APⓇ Microeconomics | Khan Academy

The long-run average total cost curve describes how average costs vary when all inputs can be adjusted. It envelopes all of the possible short-run average total cost curves.

AP(R) Microeconomics on Khan Academy: Microeconomics is the study of individual decisionmakers in an economy, such as people, households, and firms. Learn how markets work, how incentives drive decisionmaking, and how market structure influences market outcomes. We hit the traditional topics from an AP Microeconomics course, including basic economic concepts, markets, production and costs, profit maximization perfect competition, imperfectly competitive market structures, game theory, factor markets, and income inequality.

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