Find the Firm's Long-Run Average Total Cost

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How to derive the firm's long-run cost and long-run average cost from a production function.

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Thank you for posting all these videos! you are saving me in my economics degree

jordankyanne
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this is exactly what I needed, thanks

parkadeigogaming
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Sir, I don't get why you put the outcome of K=4L in parenthesis when you substitute it for K in the production function. Why wouldn't it simply be 4L^1/2, instead of (4L)^1/2?

TheRyanos
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