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.
There are many kinds of graphs, each having special parts. A circle graph is shaped like a circle. You must click on the underlined word circle to go to the next page. You must click on the underlined word bar to go to the next page. You must click on the underlined word picture to go to the next page.