why long run cost curve is flatter than short run cost curve
Cost curve The long-run marginal cost curve is shaped by returns to scale, a long-run concept, rather than the law of diminishing marginal returns, which is a short-run concept. The long-run marginal cost curve tends to be flatter than its short-run counterpart due to increased input flexibility as to cost minimization. The long-run marginal cost curve intersects the long-run average cost curve at the minimum point of the latter.[3]:208 When long-run marginal costs are below long-run average costs, long-run average costs are falling (as to additional units of output).[3]:207 When long-run marginal costs are above long run average costs, average costs are rising. Long-run marginal cost equals short run marginal-cost at the least-long-run-average-cost level of production. LRMC is the slope of the LR total-cost function.
Marcus Álvarez
Life-cycle assessment Calculations for impact can then be done by hand, but it is more usual to streamline the process by using software. This can range from a simple spreadsheet, where the user enters the data manually to a fully automated program, where the user is not aware of the source data.
Parkinson's law Articulated by Cyril Northcote Parkinson as part of the first sentence of a humorous essay published in The Economist in 1955 and since republished online,[1][2] it was reprinted with other essays in the book Parkinson's Law: The Pursuit of Progress (London, John Murray, 1958). He derived the dictum from his extensive experience in the British Civil Service.