The long run total cost curve can be estimated and plotted using the expansion path, which is

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    the curve plotting the lowest cost combinations of two inputs that can be used to produce each level of output when both inputs can be varied.
     the curve plotting various levels of two inputs that can be used to produce a given level of output when both inputs can be varied.
     the curve plotting the cost combinations resulting from varying the two inputs that can be used to produce a given level of output.
     Both 1 and 3.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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the curve plotting the lowest cost combinations of two inputs that can be used to produce each level of output when both inputs can be varied.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)



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