The long-run average cost curve shows the lowest total cost to produce a given level of output in the long run. Long-term unit costs are almost always less than short-term unit costs because ...

6. The slope of the short-run total cost curve equals the slope of the short-run variable cost curve at every output. 7. Average fixed costs are constant for all output levels. b) Calculate and graph ...

Achieving MES minimizes long-run average total cost (LRATC ... the U-shaped curve remains flat (see earlier graph) until diseconomies of scale begin and costs rise without input.

As the graph shows, copper is trading below its long term price floor based on the global production cost curve with 14% of copper operations around the world losing money at today’s price.