The long-run average total cost curve is less U-shaped than the short-run average total cost curve

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The long-run average total cost curve is typically flatter than the short-run average total cost curve, meaning that it is less U-shaped. This is because in the long run, firms have more flexibility to adjust their inputs and production processes, allowing them to achieve economies of scale and spread their fixed costs more efficiently. As a result, the long-run average total cost curve tends to be more gradual and less steeply sloped than the short-run curve.

The Long-Run Average Total Cost Curve Is Less U-Shaped Than