At Quantities Less Than the Long-Run Minimum Cost Per Unit

question 142

Multiple Choice

At quantities less than the long-run minimum cost per unit of output,the long-run average total cost curve is _____ of the corresponding short-run average total cost curve.

• A)tangent to the minimum
• B)tangent to the maximum
• C)to the right of the minimum
• D)to the left of the minimum

---

Definitions:

Need for Affiliation

A person's inherent desire to feel connected to others, seeking social bonds and meaningful relationships.

Need for Achievement

A psychological trait that drives individuals to achieve goals and excel in their endeavors.

Desire to Excel

The strong motivation or ambition to surpass others or oneself in performance or achievement.

Acquired Needs Theory

A motivational theory that categorizes an individual's specific needs into three categories: achievement, affiliation, and power.