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Explain the relation between average variable cost and marginal cost for both the short-run and long-run. Describe how the graphs of the cost functions look as part of your response. | Homework.Study.com
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Identify the general shape of short-run average cost and short-run marginal cost curves. | Homework.Study.com
![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? -
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