In a Constant-Cost Industry, Price Always Equals

question 99

Multiple Choice

In a constant-cost industry, price always equals:

• A) LRMC and minimum LRAC.
• B) LRMC and LRAC, but not necessarily minimum LRAC.
• C) minimum LRAC, but not LRMC.
• D) LRAC and minimum LRMC.
• E) minimum LRAC and minimum LRMC.

Understand the concept of runout and its types in dimensional metrology.

Apply knowledge of circular and total runout tolerances in quality control.

Recognize the methods and tools for measuring runout.

Identify errors caused by improper application of runout tolerances.

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