The type of relationship that you postulate between short-run and long-run average cost curves that is not U shaped is the external limiting relationship.
No idea
what kind of relationship would you postulate between short run and long run average cost curves when these are not u shaped as suggested by the modern theories.
what is the relationship between long run average cost curve and short run average cost curve?
we can subtract the AVC and we will get the MC
The cost curves best tells us the relationship between the marginal cost and average total cost. The average fixed cost (AFC) curve will decline as additional units are produced, and continue to decline.
Total average pertains to annual revenue. While marginal revenue is equivalent to quarterly profits. The relationship between the two is only that one is the dividend of the other.
what kind of relationship would you postulate between short run and long run average cost curves when these are not u shaped as suggested by the modern theories.
what kind of relationship would you postulate between short run and long run average cost curves when these are not u shaped as suggested by the modern theories.
no, its a postulate
a ruler measures the distance and a protractor measures the angles
The distance postulate is such: the shortest distance between two points is a line.(xy, x-y) The distance postulate is such: the shortest distance between two points is a line.(xy, x-y)
what is the relationship between long run average cost curve and short run average cost curve?
A postulate is a basic assumption or principle accepted without proof, while a theory is an explanation supported by evidence and experimentation. Postulates serve as starting points for developing theories, which are more comprehensive and detailed explanations of natural phenomena. Theories can be revised or replaced based on new evidence, whereas postulates are typically seen as foundational truths within a particular framework.
There is no difference - synonymous.
postulate theorems tell that the lines are parallel, but the converse if asking you to find if the lines are parallel.
A postulate is assumed to be true while a theorem is proven to be true. The truth of a theorem will be based on postulates.
When you need to measure the distance between two objects (to install a dishwasher, for instance), the ruler postulate is no only helpful, but necessary.
we can subtract the AVC and we will get the MC