11. Just like the supply curves reflect marginal cost curves , demand curves are determined by marginal utility curves. 12. To complicate things further, both products, because they are produced jointly, share a common marginal cost curve . 13. Each straight line segment is an tangency between the given isoquant and one of the cost curves . 14. The relevant range of product demand is where the average cost curve is below the demand curve. 15. Producers near the top of the cost curve will soon have no choice but to close mines. 16. Traditionally, cost curves have quantity on the horizontal axis of the graph and cost on the vertical axis. 17. The long-run marginal cost curve intersects the long-run average cost curve at the minimum point of the latter. 18. The long-run marginal cost curve intersects the long-run average cost curve at the minimum point of the latter. 19. Known for his enduring economic modeling of the long-and short-run cost curves , his work is still used today. 20. However, the cost curve is quite flat and the optimum may be affected by " topology traps ".
