23. Relating short run and long run cost curves 

@nbayounga Technically, SRAC is higher than or equal to LRAC. But, that only happens when the firm is stuck with the "right" amount of capital (what it would choose in the long run) in the short run.

Thanks for the videos. I'd suggest moving the position of the cam.

@intromediateecon If there is an increase in demand for iron ore (example) then firms will have to increase their production level right? how will this be shown using a diagram? will it be a shift of the isoquant curve to the right?

Really good job. Well done👍🏼

@MegaRazorex The cost curves will shift upward from their current position (in the same way as each other). Earlier in this series of videos, I explain why AVC = w/(average product). If w goes up, AVC goes up too (and in a parallel fashion).

What happen if there is an increase in the level of wages? what will the diagram look like?

Hi is it that tangency of lines on Short run cost curve to form Long Lon Cost curve is not always on minimum. Can you provide logic for this.

Hey can I ask you a question regarding this topic? It's quite long >.

Me too!!!!

I like the video, but the concept is still confusing :(

Please fix audio!!!

its nice voice louder would be better