While the shape of the long-run marginal cost curve looks surprisingly like that of a short-run marginal cost curve, the underlying forces are different. This U-shape is NOT the result of increasing, then decreasing marginal returns that surface in the short run when a variable input is added to a fixed input.The negatively-sloped portion of this long-run marginal cost curve reflects economies of scale and increasing returns to scale. Long-run Average Cost: This curve graphically illustrates the relation between long-run average cost, which is the per unit cost incurred by all of the factors of production used in the long run by a firm to produce a good or service, and the level of production.
Circle Graph: A graph that displays categorical data in the form of a circle. The circular region is divided into a number of pie-shaped sectors to represent portions of the data. This type of graph is sometimes refered to as a pie chart. A circle graph shows how parts relate to a whole and to each other. The area of each sector indicates the percentage of the whole that the part represents. Example circle graph: In this example, Clinton had almost 50% of the popular vote, so the red sector fills in half of the circle. Dole got a smaller percentage of the popular vote than did Clinton, but he got more than Perot did.
A circle is a very commonly-used and important geometrical figure. Just to recall that a circle is defined as a two-dimensional shape which is made up of a set of points, all placed at a fixed distance from a fixed point. The diagram of a circle is shown below: The fixed point O is located in the middle of the circle and is known as the center.