Asked by
Nadasia Durant
on Nov 25, 2024Verified
If start-up firms can quickly shift the short-run cost curves up and to the left, they would improve their chances of becoming profitable.
Short-Run Cost Curves
Graphical representations that show how a firm's costs vary with output level in the short term, where at least one factor of production is fixed.
Start-Up Firms
New businesses in the early stages of operation, often associated with innovation and entrepreneurship in various industries.
Profitable
A term used to describe a business or activity that generates more revenue than the expenses incurred in operating.
- Differentiate between the concepts of short-term and long-term periods in the contexts of production and expenditure.
Verified Answer
MA
Learning Objectives
- Differentiate between the concepts of short-term and long-term periods in the contexts of production and expenditure.