If the price of avocados, an input to ready- made guacamole, decreases, this will cause the short- run average total cost curves to shift _______and the long- run average cost curve to shift_______

Question

Quizplus · Accepted Answer

A decrease in the price of avocados, an input to ready-made guacamole, reduces the cost of production both in the short run and the long run, leading to downward shifts in both the short-run average total cost curves and the long-run average cost curve.

If the Price of Avocados, an Input to Ready- Made