Designing your products with proprietary technology, is a way to ...

[bobbysung]

Designing your products with proprietary technology, is a way to
 
  A) protect intellectual property.
  B) increase switching costs for your customers.
  C) grandfather in your products.
  D) decrease your marginal cost.

Question 2

Explain why the long-run total cost curve, not the short-run total cost curve, shows the lowest cost of producing any level of output. Is there an exception?
 
  What will be an ideal response?

[mcomstock09]

Answer to Question 1

B

Answer to Question 2

In the long run, all costs are variable so the firm can select the least-cost mix of all inputs to produce any given quantity. The exception would be at minimum long-run cost where min. LR and min. SR costs are equal.

[bobbysung]

Wow, this really help

[xoxo123]

Thanks for the timely response, appreciate it