The Scientific Method. The Scientific Method is an organized way that helps scientists (or anyone!) answer a question or begin to solve a problem. There are usually six parts to it. 1  Purpose/Question â What do you want to learn? 2  Research â Find out as much as you can. 3  Hypothesis â After doing your research, try to predict the answer to the problem.  Experiment â The fun 1  part! Analysis â Record what happened during the experiment.
Economic Definition of long-run average cost. Offline Version: PDF. Term long-run average cost Definition: The per unit cost of producing a good or service in the long run when all inputs are variable. In other words, long-run total cost divided by the quantity of output produced.
Tips. 1  Long-run marginal costs differ from short-run in that no costs are fixed in the long run. 2  The general formula for calculating short-run marginal cost is: MC= d(TC)/d(Q) where TC is total cost, Q is quantity, and d signifies the change in these values.tep 3. Calculate the change in total cost when producing a given quantity of additional units. Total cost is equal to fixed costs plus variable costs. The change in total cost will be the new total cost after producing any additional units, minus the total cost before producing the units.