What is meant by the ‘envelope curve’? Show graphically the derivation of the envelope curve—…


What is meant by the ‘conceal deflexion’? Show graphically the analysis of the conceal deflexion— long-run mediocre unsteady require deflexion (LAC). How can you meet the reserve LAC? Show graphically the analysis of LMC deflexion. Why does LMC interpenetrate LAC at its reserve? Suppose that a secure produces an output of 20 units and at this smooth output secure’s SAC = LAC and SMC = Rs 50. What is LMC at the output of 20 units?