Long-Run Average Cost

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MONASH Marketing DictionaryDownload this dictionary
Long-Run Average Cost
the average cost per unit of a set or group of products in the long term. Note that the long-run average cost may be somewhat lower than the short term average cost because of the effects of greater production experience. See Average Cost; Short-Run Average Cost.

2004 (c) Copyright & Reprint Courtesy of the Dept. of Marketing, Faculty of Business and Economics, Monash University; edited by Mr. Don Bradmore.

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