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.
Long-run marginal cost is the slope of the long-run total cost curve. With TC (Q) =2 Q, the slope of the long-run total cost curve is 2, and thus MC (Q) = 2. Long-run mar-ginal cost also does not depend on Q. Its graph is the same horizontal line.This exercise illustrates a general point.ong-run marginal cost is the slope of the long-run total cost curve. With TC (Q) =2 Q, the slope of the long-run total cost curve is 2, and thus MC (Q) = 2. Long-run mar-ginal cost also does not depend on Q. Its graph is the same horizontal line.This exercise illustrates a general point.