Problem
1. What is the relationship between the solution to the firm's long-run cost-minimization problem and the longrun total cost curve?
2. Explain why an increase in the price of an input typically causes an increase in the long-run total cost of producing any particular level of output.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.